There has been a drastic swing in spot gold prices in 2023 with bullion becoming as low as $1800/oz and as high as $2146/oz. It was a volatile year for the precious yellow metal with an unexpected banking crisis in March and the Hamas-Israel war in October.

The stock market also witnessed a drastic rise in gold prices in the last month of the year, making 2024 the perfect time for digital gold investment. It is advisable to choose a reliable digital platform for e-gold transactions, like myDigiGold and you don’t have to worry about the security of your digital gold.

Gold Prices in the Last Week of December

Spot gold prices rose by around 0.5% as the price hike extended for a third week in a row. It touched almost $ 2088/oz last week and became four-weeks high. The extended gains were a result of weakness in the US dollar index which traded lower by around 0.3% in the previous week. Markets are placing bets on six rate cuts by the Federal Reserve for 2024.

MCX Gold traded higher by almost 0.4% and became ₹63821/10 gm last week, hitting almost a 4-week's high. The two primary reasons behind the gold price hike being international gold prices and rupee depreciation.

Welcome 2024 with myDigiGold

The steady gold price hike makes 2024 the perfect time if you are planning to invest in digital gold. 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).

myDigiGold, by Senco Gold & Diamonds, is a widely preferred digital platform for gold transactions where you can buy and redeem digital gold at the best price. You can visit https://sencogoldanddiamonds.com/ or any of our 150+ Senco stores to redeem the accumulated gold according to your convenience.

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.