Gold Rate Today: People are excitedly anticipating Valentine’s Day and purchasing gifts and other goods because there are so many platforms giving enormous discounts and other advantages. Furthermore, given the recent little decline in the price of gold and silver, this could be an excellent opportunity to get your significant other decorations made of these priceless metals for Valentine’s Day. Across the globe, gold has always been the currency of choice, even in the present day. Because gold has no association with other asset classes, investors generally purchase it as a hedge against inflation and political upheaval. In India, the price of a gram of 22-karat gold is currently Rs 5,800, while a gram of 24-karat gold is Rs 6,323.
How prices of metals determined?
The bullion association, which determines the current gold prices in India, is responsible for some aspects of the gold price-setting process. Even though gold prices are displayed in real time in India, they rarely fluctuate throughout the day. The imports happen mostly because of the import requirements. Imports have increased significantly in comparison to previous years, and the government is making every effort to limit gold imports. That hasn’t been so simple, though, because India still has a strong desire for gold.
Gold Rate Today: Checkout the rates on MCX
Mutual funds and exchange-traded funds (ETFs) are generally the simplest and safest ways to invest in gold. Each share of these securities represents a fixed amount of gold, and you can easily purchase or sell them in your brokerage or retirement account. Because of their low cost and low minimum investment requirements, gold mutual funds and ETFs are an excellent choice for new investors. Gold futures with a February 5, 2024 maturity date were trading at Rs 62560 per 10 grams on the MCX, down 0.02 percent. Silver futures, which expire on March 5, 2024, loss 0.18 percent and were trading at Rs 70468 per kg on the MCX.
Price of gold in some major cities
| Name of cities | Prices of 22k gold in rupees |
| Delhi | 58150 |
| Kerala | 58000 |
| Pune | 58000 |
| Lucknow | 58150 |
| Patna | 58150 |
| Nagpur | 58000 |
| Chandigarh | 58000 |
| Surat | 58150 |
| Bhubaneswar | 58150 |
| Mumbai | 58000 |
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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