Gold Price Today: Before the festive season, the price of gold and silver is sky high, why are the prices increasing? When will it become cheaper?

Gold and Silver Prices Today on 13 September 2024: Gold is so valuable because it is very beautiful, is rarely found and people have been valuing it for a long time. Apart from this, gold is also a safe investment.

Gold And Silver Rates Today: Gold is not used much as compared to other metals, yet its price is skyrocketing.

Gold Silver Price Today On 13 September 2024: Even before the festive season begins, gold prices have reached the seventh sky. Today gold and silver have become expensive not only in India but all over the world. Gold prices have reached a record high due to the weakening of the US dollar and the possibility of interest rate cut (US Fed Interest Rate Cut Expectations).

In such a situation, if you are going to buy gold (Gold Rate in India) and silver (Silver Rate in India), then before that know at what price you are going to get gold and silver today. Here we are going to tell you what is the latest rate of gold and silver (Latest Gold Rate In India)? 

What is the gold rate on MCX (Gold Rate Today) 

Today, the gold rate is again witnessing a rise on the Multi Commodity Exchange (MCX). Today, gold opened at Rs 73128 per 10 grams on MCX. After this, at around 10:47 am, gold for delivery on October 4 (Latest Gold Rate in India) is trading at Rs 73187 per 10 grams with a rise of 0.5 percent or Rs 363.

Silver Price on MCX (Silver Rate Today)

If we talk about silver, today silver opened at Rs 87606 per kg on the Multi Commodity Exchange (MCX). After which the price of silver for December delivery (Today Silver Rate) increased by 0.69 percent or Rs 602 to Rs 87697 per kg.

Gold prices at record high (Gold Price Today) 

Gold prices (Today Gold Rate) in the international market saw a rise of more than 1% on Thursday, as expectations of interest rate cut (Federal Reserve Interest Rate Cut) by the US Fed next week have increased.

On Friday, spot gold rose 0.2% to $2,565 an ounce by 0258 GMT, after hitting a record high of $2,567.93 earlier in the session. Gold has risen 2.7% so far this week. US Gold Futures rose 0.5% to $2,593.40. Spot silver rose 0.1% to $29.93 an ounce.

24 karat gold 100% pure

Gold is a little soft, so it is alloyed with harder metals like silver or copper to increase its strength. The purity of gold is measured in carats. 24 carat is equal to 100% pure gold and 18 carat gold is a mixture of 75% gold and 25% silver.

So why is gold so expensive?

Gold is not used much compared to other metals, yet its price is skyrocketing. Have you ever wondered why gold is so expensive? Why do people consider it so special? Let's know what makes gold so valuable.

For thousands of years people have given great importance to gold. In the olden days people considered gold to be a magical thing. They thought that gold had some special powers. In the olden times people used gold as money. Gold looks shiny and very beautiful. That is why people use it to make jewelry. Gold is found in very small quantities on earth. The less things are found, the higher their price. Along with this, gold is very strong. It does not spoil quickly and neither does it rust.

Why is there a demand for gold these days?

• Nowadays people see gold as an investment. When there is volatility in the stock market, people buy gold to keep their money safe.
• Jewellery made of gold has always been loved by women.
• Nowadays gold is also used in electronic devices.

Gold does not require the guarantee of any bank, government or other institution. Therefore, investors consider it a safe investment. When other investments are weak, gold can maintain its value. Central banks keep gold in deposits. It acts as a reserve currency and can be used in times of need.

When will gold become cheaper? (Will the Gold Rate Decrease in Upcoming Days)

With the price of gold continuously rising, the question is when will gold become cheaper in 2024? Should you buy gold? Gold prices may fluctuate for a few days now. If you want to buy gold, you should wait a bit and see where the prices go.