Keeping Track of Gold Price Changes in India

There has been a lot of panic lately, as for the first time in many over 11 years, gold prices have taken a major hit. This is especially salient in India as a gold rush has ignited. If you are looking to track gold price changes in India, we have unearthed some resources that will be invaluable to you.

Gold on the Ceiling

For years now, gold has been a solid investment and the value of gold rose exponentially in the midst of the fallout from the economic crash in 2008. Recent deterioration in a few European countries in Europe means that countries like Cyprus, Spain and Italy, all with severely bruised economies, will possibly have to sell a large portion of their gold reserves in order to get out of severe recessions.

This is good news for people around the world that have been unable to purchase gold while the prices remained provocatively high. Nowhere is this truer than in India, a nation famed for its love of gold. It is always in demand for popular Indian festivals such as Chhath and Akshaya Tritiya.

The gold price in India fell by a mammoth $100 per 10 grams in just 5 days recently. Back in November, 10 grams of gold was worth INR 32,464 but as recently as April 19th gold was trading at just INR 26,300 per 10 gram.

You can track the gold price in India on sites such as Market Mobile (www.marketonmobile.com/Gold-Price-India), Sify Finance (http://www.sify.com/finance/gold_rates/) and Money Control (http://www.moneycontrol.com/commodity/gold-price.html). These three sites provide up to the minute prices for gold in all the major Indian cities.

Trendy Gold

Right now, the trend with the gold price in India is that it is falling steadily. As the prices continue to fall, so too will the Indian Rupee. This is necessary in order to protect the country against a gold price crash. The increased demand for jewellery in India, thanks to lower prices, will prevent a full out crash but gold prices are expected to fall a bit more yet.

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