September 2012: Gold continues to be a safe and attractive saving and investment option in India. The Gold prices have touched an all time high on 6th September 2012. The gold prices have been on the rise for the past 4 / 5 years with growing uncertainty in the global economies. It is estimated that the investments in Gold have doubled in 2009 along comparing to the 2008 levels. In India, Chennai, Hyderabad, Kolkata, New Delhi and Mumbai are the biggest Bullion markets in India. Following are Gold Prices in these cities. We update the Gold rates on day to day basis for these cities.
Gold Rates (24 ct Gold) in Hyderabad, Mumbai, Chennai and Kolkata per 10 Grams (As on 6 September 2012):
1) Chennai: Rs. 31960
2) Hyderabad: Rs.31600
3) Mumbai: Rs. 31850
4) Kolkata: Rs. 32175
5) New Delhi: Rs. 32300
Number of factors influence prices of gold. Central Banks have held large positions of gold traditionally. Hence any announcements by these banks will influence gold rates across the regions and states. Apart from the Banks, US Treasury holds huge stocks of gold as reserve currency. Latest addition to influence the gold prices are Mutual Funds and stock exchanges in the form of ETFs (Exchange Traded Funds).
The personal financial experts always suggest that the Gold should be in the investment portfolio for all classes of investors. But the percentage of the gold in overall investment should not exceed 10 percent, analysts recommend. In India, retail jewellery has been the primary option for investments in Gold. The gold investments in the form of ETFs and Coins also has been on the rise. Moreover, Indians love to secure and retain Gold, irrespective of rates and bullion market trends.