Gold Rate Today: Precious metals move down! Do you know what makes the rates go up and down?

Gold Rate Today: The good news for investors is that there won't be any price changes until Sunday as the market was closed on Friday following a sharp decrease in the price of gold and silver. If you want to invest, you can buy these precious metals. Gone are the days when women accessorised their outfits with gold jewellery on special occasions. Institutional investors are also investing in the asset due to its long-term profitability and the unpredictability of the economy's growth rate. It also mitigates losses during times of stock market volatility by acting as a diversifier. One common example of a liquid asset that can be useful during uncertain times is precious metal.

Do you ever thing what affect the prices of gold?

It is said that gold has a finite supply and is a relatively static commodity. China, Australia, and Russia were the top three gold-producing nations in 2022, according to Statista. Since there is a relatively small supply of gold, variations in demand have a significant impact on the price of gold. It was priced at about £220 in 1993. As of November 2023, the price of gold is just over £1,610, having increased seven times over that time and approaching the commodity's all-time high of £1,660.

Price of gold in some major cities

Gold Rate Today: Checkout the rates on MCX

Due to its historically low correlation with other financial assets, gold is a hedge against future economic downturns that is popular among investors. Bond yields typically decrease in response to rising gold prices. Gold futures with a February 5, 2024 maturity date were trading at Rs 62077 per 10 grammes on the MCX, down 0.18 percent. The MCX saw a 0.15 percent drop in the price of silver futures, which mature on March 5, 2024, and were trading at Rs 74415 per kg.

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