Indian Bullion
Prices & Charts
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Indian Bullion prices depend upon 3 major factors:
Pricing and value of Bullion
Other than the prices of bullion, the value of gold and silver relative to each other, or the gold-silver ratio is an important indicator that eliminates currency bias.
The ratio indicates how many units by weight at current prices of silver would it take to buy 1 unit of gold--whatever be the currency price per unit. The ratio of '60' for example means it would take 60 grams or ounces of silver to buy 1 gram/ounce of gold at current prices.
Up to a year ago the ratio above 60 was considered to be favorable for buying silver, while a ratio below 60 indicates that silver is more expensive relative to gold.
Currently the ratio has been fluctuating between 40 and 55 due to the sharp volatility of prices, especially that of silver. The price of gold has also tended to be more volatile than usual.
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'Neither a borrower nor lender be...'
The current volatility of Indian bullion prices has been stimulated by the global economic crises funded by the US policies of allowing their citizens and businesses to borrow money beyond their affordable means of ever paying back what they borrowed. Shakespeare had it right 400 years ago when he wrote--
'Neither a borrower nor a lender be,
For loan oft loses both itself and friend,
And borrowing dulls the edge of husbandry.'
In such a global scenario, it makes sense to husband one's resources and to invest some of these in gold and silver bullion as a protection and saving. Read an article about India Bullion investment here.
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Charts provided by TheBullionDesk.com
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Charts provided by TheBullionDesk.com
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This is because the local wholesale bullion market works on a complex system of wholesalers, stockists, bulk consumers, re-sellers, and retailers. For example if you order bulk silver coins from a wholesaler in Chandni Chowk, New Delhi, the coins would be made by a coin-making specialist using that dealer's dies. The same coin-maker would be making coins for many other dealers as well. Depending upon the individual dealer's cost price and the coin maker's schedule, the prices would vary somewhat dealer to dealer. In times of great demand such as Diwali, dhan-teras, weddings, you may have to wait a few days before your order is completed. In that case you would pay a booking amount to fix the rate at which you would eventually buy--regardless of the rate on the delivery date. Local wholesale Bullion prices are quoted as 'call' (asking price) and 'delivery' (bidding price) and there is a negotiating difference between the two. Additionally, the prices would be different than the ones quoted on the MCX commodity exchange. So the local market prices can be significantly lower or higher than the daily chart quoted rates, depending on the current delivery cycle running presently in the market.
Use the charts and information here only as indicators and guidelines for your purchases. |
Local market rates would be different from the rates quoted in these charts.
To India Bullion Article from Indian Bullion Prices & Charts
Track India Bullion Prices
Here are convenient charts tracking the international price of gold (per gram), and silver (per kilogram) in Indian Rupees
(Chart for Silver prices per kilo)
On this page you can use the gram to ounce calculator to convert weights, or use the gold 100 gram figures and adjust the decimal point to get the 10 gram or per gram equivalent.
Ounce rates quoted are for pure gold content (99.99%); other rates given in the charts are for 99.5% purity gold accepted as 24k, also known as 'fine gold ounce' or 'fine gold' if designated in grams. Calculations for 22k (91.66% purity 'standard ounce') would be calculated using the .995 rate as the base.
Here is a handy Real Rate of Return calculator.
This is a very useful tool to calculate the inflation adjusted rate of return for an investment.
For general purposes, the nominal rate of return is taken to be the current safe bank interest on a fixed deposit, or a government backed security. This inflation adjusted return is an indicator of the real rate of return in an economy.
- Where the Real Rate of Return in an economy is negative, it is a very strong (bullish) indicator for higher gold bullion prices.
However, the nominal rate can be designated for any investment asset class while calculating the real rate of return.