As we enter the third week of December, the price of gold in India went as low as ₹ 5,304 per gram of 24-carat gold. There was around 0.22% fall in the gold price as compared to the previous day when gold price was around ₹ 5,316 per gram. When compared with the previous week, gold prices dropped by around 7.04%. The sudden fall in gold prices makes it the ideal time for online digital gold investment. According to a survey, someone purchasing one gram of 24-carat digital gold now has a chance of getting an average annualized return of 5% if the digital gold is redeemed after 5 years.

A Brief Glimpse at Last Week’s Gold Price Worldwide

Though spot gold prices hit an all-time high when December started, last week it went down by around 3.3% and touched a two-weeks low of $1994/oz. The sudden fall in the price of the yellow metal was caused due to strengthening in the US dollar index, upbeat job data from the US and rise in US bond yields. Crucial resistance level was located at 2015 and consistent trading above this might open doors for 2035-2040 in Bull’s Spot Gold CMP-2004.

Demand for Gold in India

The demand for the precious yellow metal is always high in our country as Indians love gold and it can also provide potential protection against inflation. It is not only about retail investors, but there is also a high demand for gold from Exchange Traded Funds (ETFs) and Central Governments worldwide. Though there are various ways to invest in gold, the demand for online digital gold purchase has enhanced drastically in the last few years. The best time for online gold investment is when there is a fall in the gold price.

Ease Digital Gold Purchase with MyDigiGold

One of the primary benefits of online gold purchase is that you can invest in the precious yellow metal in small fractions (as low as 0.05 gm). You can also enjoy digital access to the purchased gold anytime and anywhere. It is advisable to choose a reliable digital platform for gold transactions like myDigiGold and you don’t have to worry about the security of your digital gold. You can redeem the accumulated digital gold online against the purchase of any jewellery by visiting https://sencogoldanddiamonds.com/ or at any of our 150+ Senco stores.

Disclaimer: The data provided on this blog is for general informational purposes only. The data is based on our research and understanding, and we cannot guarantee its accuracy or reliability.