Gold Rate Today: A successful 2023 was enjoyed by gold. Many analysts believe the metal will continue to rise throughout the year despite growing worries about bank viability, a global recession, and ongoing stock market volatility. When investors are worried about other assets or the overall economy, they often rush to purchase gold (and other metals), and this year’s bank failures have heightened those concerns. You may have read that Costco just started offering gold bars for sale, and that they are quickly selling out. Although having gold seems wonderful and can act as a hedge during a stock market slump, buying and investing in gold has some special difficulties. A gram of 22 karat gold costs Rs 5,240 in India now, and a gram of 24 karat gold costs Rs 5,716.
Buying gold stocks
While purchasing shares in a gold mining firm carries some risk, it also gives you ultimate discretion over the exact companies you decide to invest in. Investors might, for instance, choose a gold mining business that upholds strict environmental responsibility over one that does not. While holding stock won’t allow you to have gold in your hands, it does provide you the advantage of having a liquid asset.
Price of gold in some major cities
| Name of cities | Prices of 22k gold in rupees |
| Mumbai | 52400 |
| Delhi | 52550 |
| Kolkata | 52400 |
| Bangalore | 52400 |
| Pune | 52400 |
| Vadodara | 52450 |
| Jaipur | 52550 |
| Lucknow | 52550 |
Gold Rate Today: Prices on MCX
India has a habit of buying gold on certain occasions. During holiday seasons, there is a greater demand for digital gold investments, which is primarily influenced by conventions and traditions as well as the desire to mark important occasions with precious metals like gold. On October 5, 2023, the price of the 10-gram gold futures contract on the MCX dropped by 0.29 percent to Rs 56556. The value of silver futures contracts with delivery dates of September 5, 2023 is Rs. 66613 at the moment, which is Rs. 0.41% less than the contract’s value on December 5, 2023.
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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