Gold Rate Today: Everyone in our nation is purchasing new items, such as ornaments and gadgets, as the holiday season draws near. You can purchase gold for Lord Ganesha because it is now less expensive to do so because the approaching event is Ganesh Chaturthi. The use of gold as a store of value is not new. Throughout history, gold has been used as a means of exchange and a symbol of wealth. It has weathered numerous financial and economic downturns, making it a reliable investment option. The current price of gold in India is Rs 5,450 per gram for 22k gold and Rs 5,945 per gram for 24k gold, commonly known as 999 gold.
Prices of gold in some major cities
| Name of cities | Prices of 22k gold in rupees |
| Mumbai | 54500 |
| Delhi | 54650 |
| Chennai | 54800 |
| Hyderabad | 54500 |
| Kerala | 54509 |
| Bangalore | 54500 |
| Kolkata | 54500 |
Gold Rate Today: On MCX
The best inflation hedge has constantly been shown to be gold. Investors consider gold to be a key investment now more than ever. After a slight fall of 0.03 percent, the price of gold futures on the MCX that expire on August 4, 2023 was Rs 58608 per 10 grammes. Similar to gold futures, silver futures with a September 5, 2023, maturity date also fell by 0.60 percent and were trading at Rs 71502 a kilogramme on the MCX.
Investment options in gold
When it comes to investing in gold, investors have many possibilities. They can decide to invest in actual gold bars or coins, which they can keep on hand or store in safe deposit boxes. Investors also have the option of choosing gold exchange-traded funds (ETFs), which offer exposure to gold prices without requiring actual ownership. An other choice is to invest in mining equities, which are the stock of businesses engaged in the production and exploration of gold.
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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