Gold Rate Update: Gold has always shown to be a stable investment during uncertain economic times, often rising in value when other assets fall in value. Its value typically stays the same or even rises in an uncertain economy. The US dollar’s ongoing depreciation against the Indian rupee is one aspect of the Indian financial scene that sets it apart. Given this, gold has gained popularity as a stand-in due to its propensity to appreciate in value in response to fluctuations in exchange rates. Given that the price of gold has recently somewhat increased, you might want to postpone investing.
Checkout how Gold can protect you against market volatility
Gold can increase portfolio safety in ways other than just protecting against inflation. Additionally, the commodity offers excellent protection against fluctuations in the stock market. Investors typically sell their riskiest holdings and use the proceeds to purchase safe-haven assets when they believe the stock market is about to enter a bear market. Among those assets is gold. As a result, there is typically a spike in demand for gold when market conditions are unsettling. The price of gold tends to rise when investors flood the market with the metal in an attempt to protect their investments, as the law of supply and demand suggests. Therefore, gold may see gains when bears control the market, potentially resulting in losses.
Gold Rate Update: Price of gold in some major cities
| Name of cities | Prices of 22k gold in rupees |
| Mumbai | 58000 |
| Delhi | 58100 |
| Kerala | 58000 |
| Pune | 58000 |
| Lucknow | 58100 |
| Patna | 58100 |
| Nagpur | 58000 |
| Chandigarh | 58000 |
| Surat | 58100 |
| Bhubaneswar | 58100 |
Gold Rate Update: Checkout the rates on MCX
The historically low correlation of gold with other financial assets makes it a popular choice among investors as a hedge against potential economic downturns. Rising gold prices usually result in lower bond yields. With a slight increase of 0.52 percent, gold futures with a February 5, 2024 maturity date were trading at Rs 62825 per 10 grammes on the MCX. The price of silver futures, which mature on March 5, 2024, saw an increase of 0.51 percent, and were trading at Rs 75812 per kg on the MCX.
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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