Gold Rate Today: Gold is a widely used stand-in because of its propensity to appreciate in value in reaction to fluctuations in exchange rates. Given that the price of gold has recently somewhat increased, you might wish to postpone investing. Gold has shown to be a dependable investment in erratic financial times, often increasing in value when other assets do not. Its value usually stays the same or even rises in an unstable economy. The ongoing devaluation of the US dollar relative to the Indian rupee is one characteristic of the Indian financial sector that sets it apart. In India, the cost of 22-karat gold is currently Rs 5,970 per gram, while the cost of 24-karat gold is Rs 6,513.
Which gold investment is best for your portfolio?
Which gold investment is suitable for your portfolio will depend on your investing goals and available resources. Buying gold bullion is an option for larger investors looking for direct exposure, but it comes with a premium and storage costs. With tiny minimum investments, exchange-traded funds (ETFs) and mutual funds that track gold can provide low-cost exposure. However, you should do your homework before buying these shares because different funds have different investing methods and expense ratios. Investing in gold mining firms can provide an extra opportunity to obtain exposure to the metal, even if these stocks don’t necessarily closely track the long-term performance of gold. And last, owning gold through jewellery purchases can be a satisfying way to possess the metal, even though it is less likely to produce investment profits.
Gold Rate Today: Checkout the rates on MCX
Gold futures with a maturity date of April 5, 2024 and a price of Rs 65000 per 10 grams are presently trading at the MCX after rising 0.24 percent. Silver futures with a maturity date of March 5, 2024 are currently selling at Rs 73804 per kg on the MCX, up 0.59 percent from the previous trade. Due to its historically low correlation with other financial assets, investors prefer to utilise gold as a hedge against prospective economic downturns. Bond yields typically decrease in response to rising gold prices.
Price of gold in some major cities
| Name of cities | Prices of 22k gold in rupees |
| Delhi | 59850 |
| Kerala | 59700 |
| Pune | 59700 |
| Lucknow | 59850 |
| Patna | 59850 |
| Nagpur | 59700 |
| Chandigarh | 59700 |
| Surat | 59850 |
| Bhubaneswar | 59850 |
| Mumbai | 59700 |
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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