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HomeCURRENT AFFAIRSBUSINESSGold Rate Today: Precious metals move up North; Check current rates in...

Gold Rate Today: Precious metals move up North; Check current rates in your city here from Lucknow to Mumbai

A gram of 22-karat gold now costs Rs 5,680 in India, whereas a gram of 24-karat gold costs Rs 6,197.

Gold Rate Today: Gold is the most often used precious metal for financial purposes. Purchasing gold is typically done by investors to diversify their risk, particularly when using derivatives and futures contracts. Like other markets, the gold market is prone to speculation and volatility. In several countries, gold has shown to be the most effective safe haven when it comes to precious metal investments, as opposed to other options. In India, the price of a gram of 22-karat gold is currently Rs 5,680, while a gram of 24-karat gold is Rs 6,197.

Price of gold in some major cities

Name of citiesPrices of 22k gold in rupees

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 61047 per 10 grams following a 0.04 percent gain. On the other hand, maturing silver futures had a 0.20% increase and were trading at Rs 72972 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.)

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