Today Gold Silver rates
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Price is so high in global markets
In global markets, the price of gold hit a nine-month low during the previous session. Today it held steady at $ 1,711 an ounce. Among other precious metals, silver rose 0.4 per cent to $ 26.18 an ounce, while palladium lost 0.3 per cent to close at $ 2,343.52. Platinum was down 0.5 percent at $ 1,161.50.
ETF inflows reflect weak investor interest
Holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund or gold ETF, fell 0.4 per cent to 1,082.38 tonnes on Wednesday. Gold ETFs are based on the price of gold and its price also decreases with the subsequent fluctuations in its price. The flow of ETFs reflects weak investor interest in gold. A strong dollar makes gold more expensive for holders of other currencies.
Government selling gold at 10 months’ cheapest price
If you want to invest in gold then this is the right time for you. The central government has introduced the Sovereign Gold Bond Scheme. The 12th series of sovereign gold bonds has started from March 1 and you will be able to invest in it by March 5. This scheme is the last series of the current financial year. The most important thing in this is that this time the price of Sovereign Gold Bond is the lowest in ten months, that is, at the low level of 10 months. The Reserve Bank of India has fixed the price of gold subscription at Rs 4,662 per gram this time. If you apply online, you will get a rebate of 50 rupees per gram. This means that you will spend Rs 4,612 for one gram of gold.