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Dhanteras is being celebrated on November 10. Check gold costs as we speak.
Dhanteras 2023 Gold Prices: Check Latest Bullion Rates On November 10 – News18
Gold costs in India on Friday rose amid greater demand within the spot market on account of shopping for on Dhanteras. In the nationwide capital Delhi, costs of twenty-two-carat and 24-carat gold had been at Rs 56,000 and Rs 61,090 per 10 grams. In Mumbai additionally, the gold costs had been the identical on Friday. Silver costs in India had been additionally buying and selling greater by about Rs 800 to Rs 74,000 per kg.
Among different cities, in Chennai, gold costs stood at Rs 56,450 per 10 grams for 22-carats, whereas that of 24-carats stood at Rs 61,580 per 10 grams. In Kolkata, Hyderabad, Bengaluru and Thiruvananthapuram, gold costs had been the identical as Delhi and Mumbai at Rs 56,000 and Rs 61,090 per 10 grams for 22-carats and 24-carats, respectively.
In Bhopal and Patna, 22-carat gold is at the moment obtainable at Rs 56,050 per 10 grams, whereas 24-carat gold at Rs 61,140 per 10 grams.
Nirpendra Yadav, senior commodity analysis analyst at Swastika Investmart, mentioned, “Diwali is also considered an auspicious time to invest, and many people choose to invest in gold during this period. Gold is seen as a safe and secure investment, and buying gold during Diwali is believed to bring good fortune and growth in one’s wealth.”
He mentioned that past the symbolic and cultural significance, using gold throughout Diwali additionally has sensible monetary implications. As Diwali continues to be celebrated the world over, the golden glow of this treasured steel will at all times be an inseparable a part of the festivities.
Deveya Gaglani, analysis analyst at Axis Securities, mentioned many festivals in India are thought-about auspicious to purchase gold, and Dhanteras is among the many favourites. In India, individuals spend money on gold for lengthy-time period beneficial properties. That is why Indian households have the best reserves of gold, roughly Rs 21,000 tonne.
“Gold is very close to Indian’s hearts and is a more sentimental investment than a speculative one. Since Dhanteras last year, Gold has given a return of almost 20 per cent, easily beating Nifty returns,” he mentioned.
