Gold Rate Today: The most common precious metal used in finance is gold. Typically, investors buy gold to diversify their risk, especially when using futures and derivatives contracts. The gold market is volatile and subject to speculation, just like other markets. When it comes to precious metal investments, gold has shown to be the most successful safe haven in a number of nations when compared to other choices. 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.
Gold Rate Today: On MCX
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.
Price of gold in some major cities
|Name of cities
|Prices 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.
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.)