Gold Prices Ease: A Good Time to Buy?

Gold Prices Dip, Experts See Buying Opportunity

Gold and silver prices have taken a breather recently, thanks to easing trade tensions between the US and China. This dip in prices has sparked excitement among investors, with some experts seeing it as a prime opportunity to buy into the precious metal market.

Deepak Aggarwal, a financial advisor, told Mint that the correction in gold prices is a “good buying opportunity” for investors looking to add some gold to their portfolio. He suggests that this dip presents a chance to buy at a more approachable price point.

S Sridharan, founder of Wealth Ladder, goes a step further and recommends investing in gold ETFs instead of physical gold. ETFs offer a more convenient way to invest in gold, as they eliminate the hassle of storage and making charges.

Gold’s Strong Performance in Recent Years

Gold has been a solid performer in recent years, with its price jumping 30% over the past year alone. Its long-term performance is also impressive, with a 15% CAGR since 2001 and a consistent ability to beat inflation by 2-4% since 1995.

Current Gold and Silver Prices

As of 11 am on May 19, MCX gold price stood at ₹93,400/10 gm, while MCX silver prices were at ₹95,841/kg. These prices show a slight increase compared to the previous week, but they are still below record highs seen earlier this year ahead of Akshaya Tritiya.

The Indian Bullion Association (IBA) reported 24-carat gold at ₹93,780/10 gm and 22-carat gold at ₹85,965/10 gm. Silver prices today are at ₹95,960/kg (Silver 999 Fine) according to the IBA website.

Remember that these prices are for wholesale transactions. Retail customers will likely see higher prices at jewellers due to making charges, taxes, and GST.

Gold and Silver Prices in Major Indian Cities

Here are the current gold and silver prices in some major Indian cities as of May 19:

• Delhi:
• Kolkata:
• Mumbai:
• Hyderabad:
• Bengaluru:
• Chennai:

Note: Jewellers may adjust prices based on local market conditions and demand. It’s always best to check with your local jeweller for the most accurate pricing.