Gold prices in your city today, April 28: United States President Donald Trump claimed to have spoken to Chinese President Xi Jinping, firing cautious hopes for improved US-China trade relationship, even as Beijing said negotiations are “not active”. Further, a stronger US Dollar rate has also lowered gold prices off record highs ( ₹1 lakh retail with GST).
So, should you still buy gold? For Indian investors, one consideration may be that April 30 is Akshaya Tritiya, also known as Akha Teej, a highly auspicious and holy day for Hindu communities.
The belief is that Akshaya Tritiya brings good luck and success and most people opt to thus buy gold to welcome wealth and prosperity in their future. It is also believed that gold, bought on this day, will never diminish and would continue to grow or appreciate.
Further, in terms of markets reasons, for investors looking to secure their portfolios against potential headwinds, the yellow metal remains the safe haven asset of choice.
Gold MCX prices at 8 am on April 28, stood at ₹94,818 per 10 grams, down ₹174/10 gms, as per data on the official website; and MCX Silver prices dropped by ₹641/kg, to ₹95,800/kg, it showed.
Further, 24-carat gold was priced at ₹95,060/10 gm, according to data on the Indian Bullion Association (IBA) at 8 am am on April 28. Further, 22-carat gold was priced at ₹87,138/10 gms. And, Silver, meanwhile, was priced at ₹96,350/kg (Silver 999 Fine) at 8 am on April 28, as per the IBA website.
How much does gold and silver cost in your city? Check how the precious metals are faring in Mumbai, Delhi, Bengaluru, Chennai, Hyderabad, and Kolkata on April 28.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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