GOLD NEWS

Guide to finding the accurate gold price in Delhi with Bajaj Finance

Thu Dec 05 2024

 

Gold has always been more than just a shiny metal in India; it symbolises wealth, prosperity and security. And when it comes to buying, selling, or even using your gold to secure a loan, knowing the exact market price is

vital. Gold prices are influenced by several factors, right from international market trends to local demand.

As a resident of Delhi or any other city in India, these rate changes can make a significant difference if you are planning to buy during the wedding season or even use your gold as collateral for a loan. To ensure you time

your purchases well, track the gold price today in Delhi and other Indian cities and understand how to leverage your gold effectively.

Why do gold prices fluctuate?

Gold prices don’t change randomly. They follow a set of patterns influenced by both global and local factors:

• Global market trends: Gold is traded internationally, and prices often respond to geopolitical events, changes in global demand, or interest rates in major economies.
• Currency exchange rates: Since India imports gold, fluctuations in the rupee’s value against the US dollar can directly impact prices.
• Local demand: In India, festivals like Akshaya Tritiya or Diwali, along with the wedding season, lead to a surge in demand, temporarily pushing prices up.
• Inflation rates: During high inflation, the value of paper currency erodes, prompting investors to seek gold as a stable hedge. This increased demand drives gold prices upward. Gold’s ability to retain intrinsic value during economic uncertainty makes it a preferred investment, preserving wealth amid inflationary pressures and volatile financial markets.
• Regulatory changes: Government policies and regulations significantly impact gold prices. Adjustments to import duties, taxation, or restrictions on gold imports can either increase or decrease costs. For instance, higher import duties make gold more expensive, while relaxed restrictions can boost supply, lowering prices. Regulatory shifts influence market dynamics and consumer behaviour.

 

Understanding these trends isn’t just about tracking numbers; it’s about timing your gold-related decisions wisely.

 

Ways to keep track of changing gold rates

 

Staying updated on the gold price today in India is simpler than it might seem. Especially in this digital era, you can track gold prices from the comfort of your home.

Here are some reliable methods to track prices:

 

1.         Trustworthy online platforms You can follow websites like Bajaj Finance’s Gold Rate page and India Bullion and Jewellers Association (IBJA), which provide daily updates on gold prices across cities. These platforms also offer insights into market  trends, making sure you’re never out of the loop.

 

2. Reliable jewelers Reputable jewellers in any city in India keep tabs on the changing gold prices.

3. Specific mobile apps Apps from trusted financial institutions can also give you real-time updates on gold prices. Many also provide additional tools like a gold loan calculator and more.

 

Using gold as collateral for a loan

Gold is one such practical asset that can secure your financial needs during emergencies. You can pledge gold as collateral for a loan without having to part with your prized possessions.

 

Here’s how gold loans works:

•           You can pledge gold jewellery with a purity level of 18-22 karats.

•           The lender evaluates your gold’s purity and weight to determine its market value.

•           After verifying your documents, the loan amount of up to 75% of your gold’s value is credited to your account.

 

If you’re looking for a reliable financial partner, the Bajaj Finserv Gold Loan stands out with its transparent policies and customer-centric approach.

 

Here’s what makes it unique:

 

•           Loan amount: Get up to 75% of your gold’s value as a loan. Loans start from Rs. 5,000 and go up to Rs. 2 crore, with competitive interest rates.

•           Convenience: Apply online or visit the nearest branch for a hassle-free experience.

•           Minimal documentation: A streamlined process saves you time and effort.

•           Multiple repayment options: Choose between bullet payments or EMIs based on your financial convenience.

•           Competitive interest rates: Affordable repayment terms make it easier to manage the loan.

 

Step-by-step guide to applying for a Bajaj Finserv Gold Loan

 

Applying for a gold loan is simpler than ever; you just need to visit the official gold loan page and follow these steps:

 

1.         Start your application: Click on “Apply” to initiate the application process.

2.         Mobile verification: Enter your 10-digit mobile number and authenticate it using an OTP.

3.         Provide details: Fill in your personal information and select the nearest branch where your gold can be evaluated.

4.         Eligibility letter: Download the loan eligibility letter, which gives you an estimate of your borrowing capacity.

5.         Follow-up: A representative will then contact you to guide you through the next set of steps.

 

This efficient process ensures that you can secure funds quickly without any delays.

Gold is a financial asset that can empower one when used wisely. By staying updated on the gold price today in Delhi and Ahmedabad, their residents can make informed decisions and maximise returns. With Bajaj Finance’s transparent terms and seamless processes, managing financial needs has gotten even easier. So, stay proactive, plan smart, and let your gold secure your future!

 

Source: https://timesofindia.indiatimes.com/business/