Gold Rate Today: The days of ladies wearing gold jewellery as a decorative element during festivities are long gone. Even institutional investors are investing in this asset, which generates long-term profits, due to the shifting rate of economic growth. Additionally, it serves as a diversifier, offsetting losses sustained during stock market volatility. One of the well-known liquid assets that is useful in tumultuous times is precious metal. The yellow metal protects against depreciation of currency and inflation. Other than this, the metal performs better when debt and stocks decline in the capital markets. In India, the price of a gram of 22-karat gold is currently Rs 5,545, while a gram of 24-karat gold is Rs 6,049.
Price of gold in some major cities
|Name of cities||Prices of 22k gold in rupees|
Gold Rate Today: On MCX
One buys gold for a number of reasons. Some people pass down their gold through the centuries, so keeping it safe is essential. As a kind of future security or during marriages, it can be advantageous. Some people consult knowledgeable financial consultants, who suggest investing in gold. The October 5, 2023, 10-gram gold futures contract on the MCX saw a 1.26 percent increase in price, reaching Rs 59958. The current value of silver futures contracts with delivery dates of September 5, 2023 is Rs. 71820, which represents a increase of 0.35% from the contract’s value on December 5, 2023.
Investors can get gold exposure
Mutual funds and exchange-traded funds are two ways that investors might gain exposure to gold. The price of gold determines the value of funds with the highest direct exposure. The expenditure ratio is a tool used to charge investors for the cost of maintaining physical supplies. There are a few shortcomings: Certain gold funds are not entitled to the lower long-term capital gains rates that apply to stocks since they are categorised as collectibles. Moreover, year after year, the principle may be eroded by the expense ratio as they generate no money.
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