Gold Rate Today: Gold has been the preferred form of payment throughout history, from the earliest civilizations to the present. Because gold has low correlations to other asset classes today, investors mostly purchase it as a hedge against inflation and political turmoil. In order to reduce total portfolio risk, several renowned investing gurus also advise allocating a portion of your portfolio to commodities, like gold. The current price of gold in India is Rs 5,520 per gram for 22k gold and Rs 6,022 per gram for 24k gold, commonly known as 999 gold.
Price of gold in some major cities
| Name of cities | Prices of 24k gold in rupees |
| Chennai | 60,550 |
| Mumbai | 60,220 |
| Delhi | 60,370 |
| Kolkata | 60,220 |
| Bangalore | 60,220 |
| Pune | 60,220 |
| Vadodara | 60,270 |
| Jaipur | 60,370 |
| Lucknow | 60,370 |
Gold Rate Today: On MCX
In recent years, gold hasn’t offered very outstanding returns. Therefore, it is advised that you only make a purchase if you wish to increase your options. If any other asset class, such as equities or real estate, fell, gold would rise. It is regarded as a safe haven asset for this reason. The price of the 10-gram gold futures contract for October 5, 2023, on the MCX rose by 0.10% to Rs 59316. Futures contracts for silver with a delivery date of September 5, 2023 are currently worth Rs. 72470, or 0.14% less than their December 5, 2023, expiration price.
Gold Investment Provides High Cash Flow
If you have any gold coins or jewellery, you can sell them at any moment at a nearby jewellery store to liquidate your holdings. Shares and mutual funds can also be easily converted into cash. However, it may take a few days for these things to be reclaimed and the sale revenues to be refunded to your bank account. Gold, in contrast to these securities, is more liquid.
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.)
Keep watching our YouTube Channel ‘DNP INDIA’. Also, please subscribe and follow us on FACEBOOK, INSTAGRAM, and TWITTER
