Gold Rate Today: Gold is seen as a sign of power and majesty in India. However many individuals today acquire gold to save money in the form of yellow metal. Over millennia, gold has been used as jewellery as a medium of exchange. Gold has a vital economic role as a medium of exchange in the event of a currency collapse. The rates of gold has been increased just before Rakshabandhan festival. Gold prices in India now are Rs 5,445 per gramme for 22k, and Rs 5,940 per gramme for 24k(commonly known as 999 gold).
Gold Rate Today in some major cities
| Name of the cities | 22K gold | 24K gold |
| Chennai | Rs 54,750 | Rs 59,750 |
| Delhi | Rs 54,600 | Rs 59,550 |
| Bangalore | Rs 54,450 | Rs 59,400 |
| Kerala | Rs 54,450 | Rs 59,400 |
| Vadodara | Rs 54,500 | Rs 59,450 |
| Jaipur | Rs 54,600 | Rs 59,550 |
| Coimbatore | Rs 54,750 | Rs 59,750 |
| Vijayawada | Rs 54,450 | Rs 59,400 |
| Nagpur | Rs 54,450 | Rs 59,400 |
| Bhubaneswar | Rs 54,450 | Rs 59,400 |
Gold Rate Today: On MCX
Gold prices have increased on the Multi Commodity Exchange (MCX). Gold futures on the MCX rose 0.43 percent to Rs 58891 for 10 grams with an expiration date of August 4, 2023. Silver is currently priced at Rs. 73613, up 0.9%, for delivery on September 5, 2023. There is an app available from the government that allows people to check the purity of gold. Using the BIS Care app, customers may determine the purity of gold.
Why people should invest in gold?
Investing in gold has numerous advantages. The first and primary benefit is simple liquidity. You can sell the valuable metal whenever you choose. Of course, if it is the physical form, you will only receive a fraction of the true cost of the gold due to several expenses, including the producing charges. Another advantage is that it is an excellent hedge against both inflation and political unrest. As a result, if you haven’t invested in gold, you’re making a mistake. Individuals can have at least some gold as an investment.
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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