Gold Rate Today: When other markets and economies are struggling, gold is typically considered as a haven for investors. During inflation, gold is seen as a hedge against it; when inflation starts to outstrip interest rates, investors start looking for more stable investments. The current price of gold in India is Rs 5,485 per gram for 22k gold and Rs 5,984 per gram for 24k gold, commonly known as 999 gold. These were the rates on Friday since the market is closed the rates remain same.
Prices of gold in some major cities
| Name of cities | Price of 24k gold in rupees |
| Mumbai | 59,840 |
| Delhi | 60,000 |
| Hyderabad | 59,840 |
| Ahmedabad | 59,890 |
| Jaipur | 60,000 |
| Lucknow | 60,000 |
| Madurai | 60,110 |
| Patna | 59,890 |
| Chandigarh | 60,000 |
| Mangalore | 59,840 |
| Mysore | 59,840 |
Gold Rate Today: On MCX
The price of the 10-gram gold futures contract, which matures on October 5, 2023, dropped to Rs 58900 on the MCX by 0.17%. Silver futures with a delivery date of September 5, 2023 are currently valued at Rs. 71571, a reduction of 0.28% from their December 5, 2023, expiration price. Gold has not given exceptionally impressive returns in recent years. As a result, it is best to buy only to broaden your selection. Gold would rise if any other asset class decreased, such as equities or real estate. It is therefore viewed as a haven asset.
Checkout the purity of gold
Before buying gold, evaluate its purity, which is measured in carats, with 24 carats being the purest. 24K gold is pliable and liquid, and to become stronger, it must be alloyed with other metals. For example, 22k gold is made up of 22 parts gold (91.6 percent) and 2 parts other metals. The purer the gold, the higher the price.
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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