Gold Rate Today: Gold is valued in India not just as an ornament but also as a common form of investment. For decades, most families have prized gold, passing it down as an asset from one generation to the next. However, there is a risk of theft as well as depreciation (due to charges such as making-charges and gold purity levels). The best way to invest in gold is through Fund of Funds (FoF) and Gold ETFs. Today’s gold price in India is Rs 5,484 per gram for 22k, and Rs 5,983 per gram for 24k, also known as 999 gold.
Prices of gold in some major cities
| Name of cities | Prices of 24k gold in rupees |
| Mumbai | 59,830 |
| Delhi | 59,990 |
| Hyderabad | 59,830 |
| Pune | 59,830 |
| Vadodara | 59,880 |
| Ahmedabad | 59,880 |
| Lucknow | 59,990 |
| Madurai | 60,160 |
| Vijayawada | 59,830 |
| Patna | 59,880 |
| Nagpur | 59,830 |
Gold Rate Today: Prices on MCX
On the MCX, the price of the 10-gram gold futures contract, which matures on October 5, 2023, up by 0.05% to Rs 58925. Silver futures with a delivery date of September 5, 2023 are currently valued at Rs. 71887, a 0.46% increased from their expiration price of December 5, 2023. In recent years, gold has not provided particularly remarkable returns. As a result, it is recommended to acquire only to diversify your options. If any other asset class, such as stocks or real estate, fell, gold would climb. As a result, it is regarded as a safe haven asset.
Why investing in gold is important?
Gold should be included in a well-diversified investment portfolio since its price rises in response to circumstances that cause the value of paper investments such as equities and bonds to fall. Although gold’s price can be erratic in the short term, it has always maintained its value in the long run. Gold has historically functioned as a buffer against inflation and the depreciation of major currencies, making it an investment well worth considering.
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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