Gold Rate Today: 'Lagan' shopping gets costlier, silver decrease; check current rates in your city here

Gold Rate Today: Gold investing is no longer limited to gold bars, coins, or jewellery due to rising digitization and accessibility to online platforms. The valuable yellow metal can now be bought in a variety of ways, such as Sovereign Gold Bonds, digital gold, and gold exchange-traded funds. Knowing the different investment possibilities and their accompanying tax implications is crucial, regardless of whether you want to present gold as a way to celebrate the holidays or diversify your portfolio. In India, the price of a gram of 22-karat gold is currently Rs 5,745, while a gram of 24-karat gold is Rs 6,267.

Price of gold in some major cities

Gold Rate Update: On MCX

On the MCX, gold futures with a maturity date of February 5, 2024, were trading at Rs 62432 per 10 grams, up 0.40 percent from their previous price. The price of silver futures, which mature on March 5, 2024, fell by 0.13 percent on the MCX and were trading at Rs 75180 a kilogram. Because gold is one of the few tangible investments, people think it's safe. Purchasing gold is not as simple as investing in other tangible assets like real estate. Gold is also resistant to theft and other types of fraud because it is physical rather than digital. There is a substantial danger involved, though. Thus, remember these.

Many jewellers have developed gold savings plans

In recent years, many jewellers have developed gold savings plans. Gold or jewellery savings programmes allow you to set aside a specified amount each month for the length of your choice. After the timer runs out, you can buy gold from the same jeweller for the amount you put plus a bonus. This conversion is done at the gold price in effect at maturity. At the end of the term, the jeweller usually gives a present item or adds a month’s installment as a monetary incentive.

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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