Gold Rate Update: See saw journey continues! Prices of Precious metals move down; Check current rates in your city

Gold Rate Update: Gold has been the preferred form of payment from ancient civilizations to the present. Considering that gold has little link to other asset classes these days, investors typically purchase it as a hedge against inflation and political turmoil. To reduce total portfolio risk, a number of well-known investment gurus advise allocating a portion of your portfolio to commodities, such as gold. The current price of gold in India is Rs 5,495 per gram for 22k gold and Rs 5,995 per gram for 24k gold, commonly known as 999 gold.

Price of gold in some major cities

Gold Rate Update: On MCX

Gold would increase in value if any other asset type, such as equities or real estate, declined. As a result, it is regarded as a safe haven asset. To reach Rs 58846, the price of the 10-gram gold futures contract for October 5, 2023 on the MCX down by 0.17 percent. The value of silver futures contracts with delivery dates of September 5, 2023 is currently Rs. 73162, which is 0.24% less than the contract’s value on December 5, 2023.

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.)

Also Read: Gold Rate Today: Price of yellow metal rises to the seventh heaven while silver halts. These are the prices from Delhi to Bangalore

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