Gold Price Update: Yellow Metal Hits ₹1 Lakh on April 22 – Smart Tips to Make the Right Investment

Gold Price Update: Yellow Metal Hits ₹1 Lakh on April 22 – Smart Tips to Make the Right Investment

Gold has always been seen as a valuable asset in Indian households. Whether it’s for tradition, security, or investment, gold never loses its shine. On April 22, 2024, the price of gold made headlines as it crossed the ₹1,00,000 mark per 10 grams. This sharp rise has left many people wondering if it’s the right time to buy, sell, or invest in this precious metal.

In this blog, we will explain the reasons behind the price jump, how gold is performing, and the best and safest ways to put your money into gold today.

 1. What Caused Gold Prices to Cross ₹1 Lakh?

Several reasons led to this sharp increase:

• Global uncertainty due to geopolitical tensions and war-like situations in some parts of the world.

• Weakening value of the rupee against the US dollar.

• Rising inflation worries, making investors look for safer options like gold.

• Central banks buying large quantities of gold to store value.

• Stock market volatility, pushing people towards secure options like gold.

All these factors together pushed the price of gold to new heights.

 2. Current Gold Rate in Major Cities (As of April 22, 2024)

Here’s a quick view of gold prices (for 24K, 10 grams):

• Delhi – ₹1,00,300

• Mumbai – ₹1,00,150

• Chennai – ₹1,00,500

• Kolkata – ₹1,00,250

• Bangalore – ₹1,00,400

Note: Prices may vary slightly depending on local taxes and dealer charges.

 3. Why People Are Turning to Gold Right Now

• It’s seen as a safe asset during uncertain times.

• Gold holds value better than stocks during market crashes.

• Long-term investment in gold beats inflation.

• It’s easy to buy, sell, or use during emergencies.

• Trusted and accepted across the world.

 4. Best Ways to Invest in Gold Today

If you're thinking about investing, you don’t have to only buy physical gold. Here are smart ways to invest:

 A. Physical Gold – Jewellery, Coins & Bars

• Still popular in India.

• Can be gifted, used or pawned.

• Comes with making charges, so returns may be slightly lower.

• You’ll need to keep it safe and possibly rent a locker.

Tip: Buy from BIS-certified shops and ask for a proper bill.

 B. Gold Exchange-Traded Funds (ETFs)

• These are like mutual funds but invest only in gold.

• You don’t own physical gold; it’s stored in a bank vault.

• Easy to buy/sell online via your Demat account.

• Lower charges, no worries about theft or purity.

Best for: Tech-savvy investors who prefer flexibility and safety.

 C. Sovereign Gold Bonds (SGBs)

• Issued by the Reserve Bank of India (RBI).

• Offers fixed interest (currently around 2.5% yearly) + gold price increase.

• Locked in for 8 years (early exit allowed after 5 years).

• No capital gains tax if held till maturity.

Best for: Long-term investors looking for both safety and returns.

???? D. Digital Gold

• Offered by payment apps like PhonePe, Google Pay, Paytm, etc.

• You can buy as little as ₹10 worth of gold.

• Stored safely by certified vault companies.

• Easy to convert into coins or jewellery later.

Best for: Beginners and small investors who want to start slow.

 5. Which Option Is Best For You?

Here’s a simple table to help:

 6. Mistakes to Avoid While Buying Gold

• Don’t buy from unknown sellers or without proper bills.

• Avoid falling for low-cost traps that compromise on purity.

• Don’t keep all your investment in just gold — diversify.

• Be aware of charges like GST, making fees, locker rent, etc.

• Don’t ignore exit plans — know how you’ll sell or use the gold.

 7. Gold vs Other Investment Options

Conclusion: Gold is stable, safe, and especially useful during tough times — but don’t rely on it alone.

 8. Is It Too Late to Invest Now That Gold Touched ₹1 Lakh?

Not really. Here's why:

• Experts believe prices may go even higher due to continued global tension.

• You can still invest in parts, using monthly SIPs in ETFs or SGBs.

• Remember, gold is for long-term wealth creation, not short-term profits.

 9. Final Thoughts – Should You Buy Gold Now?

Yes, but choose smart options. With gold prices breaking the ₹1 lakh barrier, now is a great time to:

• Review your financial goals.

• Pick the right type of gold investment based on your needs.

• Don’t rush — plan wisely, invest in parts, and think long term.

Conclusion: Shine Bright with Smart Gold Choices

Gold continues to be a trustworthy friend in every Indian household. Whether for weddings, safety, or wealth building, it always finds a place in our lives. With prices soaring past ₹1,00,000, the golden question is how wisely you invest.

Stick to verified sellers, consider modern investment tools like SGBs or ETFs, and think beyond just wearing gold — let it grow your wealth too.

Would you like a downloadable comparison chart of all gold investment options or a calculator to plan monthly gold SIPs? I can prepare that next!