Gold Rate Today: Gold has always shown to be a dependable investment during uncertain economic times, often increasing in value when other assets do not. Its value usually stays the same or even rises in an unstable economy. The US dollar’s ongoing depreciation versus the Indian rupee is one aspect of the Indian financial sector that sets it apart. Gold is a common stand-in because it often appreciates in value in reaction to shifts in exchange rates. Given that the price of gold has recently somewhat increased, you might wish to postpone investing.
Gold Rate Update: Price of gold in some major cities
| Name of cities | Prices of 22k gold in rupees |
| Mumbai | 61700 |
| Delhi | 61850 |
| Kerala | 61700 |
| Pune | 61700 |
| Lucknow | 61850 |
| Patna | 61850 |
| Nagpur | 61700 |
| Chandigarh | 61700 |
| Surat | 61850 |
| Bhubaneswar | 61850 |
Why to invest in Gold Schemes?
It’s one of the greatest ways to buy gold. There are many gold schemes on the market, the majority of them are promoted by jewellers. These plans work similarly to SIPs, where you deposit a set amount of money each month at a jeweller. The duration of the programme could be two years, eleven months, etc. You can receive your investment money back in exchange for the gold when the plan matures or expires. However, we suggest exercising caution when putting money into this kind of venture. Make sure to investigate the jeweller and their policies before placing an investment. Moreover, if the scheme’s returns are similar to those of a typical investment or an FD, the risk might not be warranted.
Gold Rate Update: Checkout the rates on MCX
Due to its historically low correlation with other financial assets, gold is a hedge against future economic downturns that is popular among investors. Bond yields typically decrease in response to rising gold prices. Gold futures with a April 5, 2024 maturity date were trading at Rs 67482 per 10 grammes on the MCX, up 1.68 percent. The MCX saw a 0.47 percent increase in the price of silver futures, which mature on May 3, 2024, and were trading at Rs 75014 per kg.
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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