Gold Rate Today: Good News! Because the prices of both precious metals have dropped, you can give decorations made of gold and silver during this wedding season. In contrast, silver rates have dropped by 2.62 percent, while gold rates have dropped by 1.46 percent, according to the MCX. And you are undoubtedly aware that the prices of these precious metals could rise in the near future if you have ever invested or if you regularly monitor their values. To profit from this decline, you can also invest in gold and silver. Purchasing gold outright, gold funds, or gold options are a few methods to invest in the precious metal.
Price of gold in some major cities
| Name of cities | Prices of 22k gold in rupees |
| Mumbai | 58850 |
| Delhi | 59000 |
| Kerala | 58850 |
| Pune | 58850 |
| Lucknow | 59000 |
| Patna | 59000 |
| Nagpur | 58850 |
| Chandigarh | 58850 |
| Surat | 59000 |
| Bhubaneswar | 59000 |
Gold Rate Today: On MCX
On October 5, 2023, the price of the MCX’s 10-gram gold futures contract dropped by 1.46 percent to Rs 63355. Silver futures contracts with delivery dates of September 5, 2023 are currently valued at Rs. 77965, which is 2.62 percent less than their December 5, 2023, value.
Investors can get gold exposure
Investors may purchase gold through exchange-traded funds (ETFs) or mutual funds. The value of funds with the most direct exposure is determined by the price of gold. One instrument used to charge investors for the expense of sustaining physical supplies is the expenditure ratio. There are a couple of issues: Because they are classified as collectibles, some gold funds are exempt from the lower long-term capital gains taxes that apply to stocks. Furthermore, since they produce no revenue, the premise may be undermined year after year by the expense ratio.
Disclaimer: (This information is provided solely for informational purposes. It is important to note that investing in the market or a business idea involves market risks. Before investing money as an investor/ owner/ partner, always consult an expert. DNP News Network Private Limited never advises to invest money on stocks or any specific business idea. We will not be liable for any financial losses.)
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