Gold Rate Today: Good News! Prices decrease in the wedding season; check current rates in your city here

Gold Rate Today: Are also gifting something made from gold or silver to your relative this wedding season? Then we have a good news for you because the prices of gold has been decreased but silver is still on high note. Gold is the most commonly utilised precious metal in financial transactions. Typically, investors buy gold to diversify their risk, especially when using derivatives and futures contracts. The gold market, like other markets, is prone to speculation and volatility. When it comes to precious metal investments, gold has shown to be the most effective safe haven in various countries, outperforming other possibilities. Today's gold price in India is Rs 5,735 per gram for 22 karat gold and Rs 6,256 per gram for 24 karat gold.

Price of gold in some major cities

Gold futures can be speculative

Investing in gold can be done through gold futures, but they are very speculative and can be dangerous for first-time buyers. With gold futures, a buyer and seller engage into a contract whereby the buyer commits to buying a predetermined quantity of gold at a predetermined price on a predetermined date, regardless of the state of the market. That implies that you could lose a lot of money (or your entire investment) if you hold the investment and the price drops right before the contract expires.

Gold Rate Today: On MCX

Gold is one of the few tangible assets, therefore investors generally think it’s safe. Purchasing gold is easier than investing in other tangible assets, such as real estate. Furthermore, because gold is tangible, it is not susceptible to hacking or other forms of misuse, unlike digital assets. It does come with some danger, though. Therefore, remember these. On the MCX, gold futures with a December 5, 2023, maturity date were trading at Rs 62670 per 10 grams following a 0.08 percent loss. On the other hand, maturing silver futures had a 0.01% increase and were trading at Rs 77000 per kilogramme on the MCX on December 5, 2023.

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