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HomeCURRENT AFFAIRSBUSINESSGold Rate Today: Prices move up! Can Gold protect against market volatility?

Gold Rate Today: Prices move up! Can Gold protect against market volatility?

In India, the price of a gram of 22-karat gold is currently Rs 5,800, whereas a gram of 24-karat gold is Rs 6,327.

Gold Rate Today: In unpredictable economic times, gold has always proven to be a reliable investment, frequently appreciating in value when other assets do not. In an unstable economy, its value usually remains the same or even increases. One feature of the Indian financial environment that makes it unique is the US dollar’s continuous depreciation against the Indian rupee. Because gold tends to increase in value in response to changes in currency rates, it has become more and more popular as a stand-in. You might wish to put off investing because gold has recently seen a slight boost in price.

Gold can protect you against market volatility, explained

Gold can increase portfolio safety in ways other than just protecting against inflation. Additionally, the commodity offers excellent protection against fluctuations in the stock market. Investors typically sell their riskiest holdings and use the proceeds to purchase safe-haven assets when they believe the stock market is about to enter a bear market. Among those assets is gold. As a result, there is typically a spike in demand for gold when market conditions are unsettling. The price of gold tends to rise when investors flood the market with the metal in an attempt to protect their investments, as the law of supply and demand suggests. Therefore, gold may see gains when bears control the market, potentially resulting in losses.

Gold Rate Update: Price of gold in some major cities

Name of citiesPrices of 22k gold in rupees
Mumbai58000
Delhi58150
Kerala58000
Pune58000
Lucknow58150
Patna58150
Nagpur58000
Chandigarh58000
Surat58150
Bhubaneswar58150

Gold Rate Update: Checkout the rates on MCX

The historically low correlation of gold with other financial assets makes it a popular choice among investors as a hedge against potential economic downturns. Rising gold prices usually result in lower bond yields. With a slight increase of 0.56 percent, gold futures with a February 5, 2024 maturity date were trading at Rs 62798 per 10 grammes on the MCX. The price of silver futures, which mature on March 5, 2024, saw an increase of 0.43 percent, and were trading at Rs 72650 per kg on the MCX.

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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