How to Check Gold Rate in the BankBazaar Mobile App

Step 3: Select the option of Gold rate'. 

Step 4: Once done, you can check the rate of gold in every city in India. 

Importance of Checking Gold Prices Regularly 

Gold prices keep changing every day, so to become updated it important to check them regularly. Below are some of the key reasons: 

1. By knowing the prices of gold, you can buy or sell at the right time. You can avoid paying too much or selling at a low price. 

1. You can easily compare prices from different jewellers and get to know about extra charges like high fees. 

1. If you are planning to invest in gold, then it is important to check the prices to earn maximum profit. 

1. It helps you to stay within your budget for big purchases like wedding jewellery. 

Where to Check Gold Prices in India 

You can check the latest gold rates in India by various ways. These are as follows: 

1. Mobile Apps: There are many apps that are offered by many banks, commodity exchanges, and finance companies in which you can check real-time gold prices. These apps also include charts, news, and price alerts. 

1. Financial News Websites and Publications: You can check the prices on reliable websites such as GoodReturns and the Economic Times. It provides you with the latest updates, opinions from experts, and market analysis.  

1. Commodity Exchanges: In order to get up-to-date information on current gold rates, trading volumes, and price trends, you can also visit the official websites of major exchanges like the Multi Commodity Exchange (MCX) in India, or global exchange websites like LBMA and NYMEX. 

1. Banks and Brokerage Firms: Banks and brokerage firms like Zerodha, HDFC Securities, or ICICI Direct offer online platforms where people can invest in gold and other assets. People having already have an account on these platforms can get information about price trends through various tools.  

1. Social media, Forums & Webinars: Social media platforms like Twitter, Telegram, and Reddit, along with online investing forums, are some of the popular places where investors share real-time updates, price predictions, news, and personal tips about the gold market. These platforms help people to learn more about how gold prices work and how to track them effectively. 

Why Use BankBazaar for Gold Prices? 

Here are some of the key reasons to use BankBazaar for checking gold prices: 

1. BankBazaar provides you with accurate information by showing the latest gold prices and updates. 

1. You can check how gold prices have changed daily, monthly, and yearly to understand trends. 

1. You can get the information about gold rates for many different cities across India via BankBazaar app and website. 

1. It is simple to use on both your phone and computer that means you can check the prices easily anytime.  

Factors Affecting Gold Prices in India 

Given below are some of the factors which influence the price of Gold in India: 

1. Global Demand and Supply: If more people or organizations like central banks or gold investment funds (ETFs) want to buy gold, then the demand gets increased which increases the price. On the contrary, if there is more mining of gold then there is more supply in the market which makes the price go down. 

1. International Market Trends: Global gold prices are usually set by international markets like the London Bullion Market or COMEX, which directly impact Indian rates. These rates are affected by inflation, interest rates, and global economic conditions. 

1. Government Policies and Import Duties: Taxes, import duties, and other regulations set by the Indian government can raise or lower gold prices in the country. 

1. Rupee-Dollar Exchange Rate: India trades gold in US dollars globally, which means a weaker rupee makes gold more expensive in India, while a stronger rupee can lower its price. 

1. Investor Sentiment and Market Speculation: Gold prices are also affected by the thinking and expectations of investors. For example, if investors believe that the value of gold will increase in the near future, then more people will start buying it. This can cause an increase in the price of gold.