Gold Rate Today: Gold can help safeguard your portfolio from market volatility by acting as both a safe haven and an inflation hedge. You can currently see on MCX that the gold production process has been reduced by more than 1%. If you want to buy gold today, this decrease is for you. The time may be ideal for gold investments right now. Bullion, an ETF, and individual retirement accounts (IRAs) are just a few ways to invest in this precious metal. Gold is currently selling for Rs 5,320 per gram for 22k gold and Rs 5,804 per gram for 24k gold, also referred to as 999 gold, in India.
Price of gold in some major cities
| Name of cities | Prices of 22k gold in rupees |
| Mumbai | 53200 |
| Lucknow | 53350 |
| Pune | 53200 |
| Bangalore | 53200 |
| Kolkata | 53200 |
| Vadodara | 53250 |
| Jaipur | 53350 |
| Delhi | 53350 |
Gold Rate Today: On MCX
Many people choose to invest in gold each year. It is one of the country’s most established investment methods. There are many benefits to investing in gold. The price of the 10-gram gold futures contract on the MCX decreased by 0.47 percent to Rs 57575 on October 5, 2023. With delivery dates of September 5, 2023, silver futures contracts currently have a value of Rs. 69870, which is Rs. 1.03% less than the contract’s value on December 5, 2023.
Importance of investing in gold
Gold has been the preferred form of payment from ancient civilizations to the present. Considering that gold has little link to other asset classes these days, investors typically purchase it as a hedge against inflation and political turmoil. To reduce total portfolio risk, a number of well-known investment gurus advise allocating a portion of your portfolio to commodities, such as gold.
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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