22k Gold Price Chart Last 1 Year India
Gold has always been a symbol of wealth and prosperity in India. It is not just a precious metal, but an important part of Indian culture and traditions. The price of gold has been fluctuating in the last 1 year due to various economic and geopolitical factors. In this article, we will take a look at the 22k gold price chart last 1 year in India.
What is 22k gold?
Before we dive into the price chart, let's understand what 22k gold is. 22k gold is an alloy of gold and other metals, such as copper and silver. It contains 22 parts of pure gold and 2 parts of other metals, making it 91.67% pure. 22k gold is commonly used for making jewelry in India.
22k gold price chart last 1 year in India
The price of 22k gold in India has been on a rollercoaster ride in the last 1 year. It started at around Rs. 3,900 per gram in August 2020 and reached a peak of Rs. 5,350 per gram in August 2021. However, it has been on a downward trend since then and is currently trading at around Rs. 4,800 per gram.
Factors affecting the price of 22k gold in India
The price of 22k gold in India is affected by various factors, such as:
- International gold prices: The price of gold in the international market has a direct impact on the price of gold in India.
- Exchange rate: The exchange rate between the US dollar and the Indian rupee also affects the price of gold in India.
- Demand and supply: The demand and supply of gold in India also play a crucial role in determining its price.
- Inflation: Inflation also affects the price of gold in India. When inflation is high, investors tend to invest in gold as a hedge against inflation, which increases the demand for gold.
- Geopolitical factors: Geopolitical factors, such as wars, political instability, and economic sanctions, can also affect the price of gold.
Is it a good time to invest in 22k gold?
Investing in gold is a personal choice and depends on various factors, such as your financial goals, risk appetite, and investment horizon. However, if you are looking to invest in gold, it is always advisable to do so when the price is low.
Currently, the price of 22k gold in India is on a downward trend, which may be a good opportunity to invest in it. However, it is important to do your own research and consult a financial advisor before making any investment decisions.
Conclusion
The price of 22k gold in India has been volatile in the last 1 year, but it is an important asset class for many investors. Understanding the factors that affect its price can help you make informed investment decisions. If you are looking to invest in 22k gold, it may be a good time to do so, but always consult a financial advisor before making any investment decisions.
