Gold Rate Today: Prices ease, should you buy? Check current rates in your city here

Gold Rate Today: The majority of Indian homes have gold in some form. Indians have traditionally purchased gold to save for a rainy day or to achieve big financial goals. Buying gold is thus seen as a form of financial support. There are now two methods for purchasing gold: physically and on paper. Within each, there are various ways to obtain the golden metal. Gold is now priced at Rs 6,202 per gram for 24 carat gold and Rs 5,685 per gram for 22 carat gold in India.

Price of gold in some major cities

Gold Rate Today: On MCX

On the MCX, gold futures with a December 5, 2023, maturity date were trading at Rs 60963 per 10 grams following a 0.43 percent loss. On the other hand, maturing silver futures had a 0.69% decline and were trading at Rs 72798 per kilogramme on the MCX on December 5, 2023. Because gold is one of the few tangible investments, investors often believe it is safe. Buying gold is less difficult than investing in other physical assets such as real estate. Furthermore, unlike digital assets, gold is not vulnerable to hacking or other forms of misappropriation because it is tangible. It does, however, carry some risk. So keep these in mind.

What is Gold saving scheme?

Numerous jewellers have introduced gold savings plans in recent years. Savings plans for gold or jewellery let you set aside a certain amount each month for the duration of your choice. After the time expires, you can purchase gold at a value equal to the entire amount deposited, plus a bonus, from the same jeweller. At the gold price in effect on maturity, this conversion is completed. Usually, the jeweller offers a gift item or adds a month’s installment as a monetary incentive at the conclusion of the term.

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.)

Keep watching our YouTube Channel ‘DNP INDIA’. Also, please subscribe and follow us on FACEBOOK, INSTAGRAM, and TWITTER