Gold Rate Today: Prices of precious metals move down south; Should you start your wedding shopping? Check current rates in your city here

Gold Rate Today: The days of women accessorising their attire with gold jewellery for festive occasions are long gone. Because of the asset's long-term profitability and the economy's fluctuating growth rate, even institutional investors are investing in it. Furthermore, it functions as a diversifier, counterbalancing losses incurred during periods of stock market volatility. Precious metal is a popular example of a liquid asset that can be helpful during uncertain times. The yellow metal guards against inflation and currency depreciation. In India, the cost of 22-karat gold is currently Rs 5,770 per gram, whereas 24-karat gold is priced at Rs 6,295 per gram.

Price of gold in some major cities

What is Gold mutual funds?

Gold ETF investments are made on your behalf by gold mutual funds, which are funds of funds. They do away with the requirement for a Demat Account and are quite comparable to investing in Gold ETFs. To invest in these funds, simply fill out the online Know Your Customer (KYC) form, just like you would with mutual funds. These funds are a great way to invest in gold because they typically also provide the Systematic Investment Plan (SIP) option. These mutual funds are also offered on the stock markets of the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).

Gold Rate Today: 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 decrease of 0.94 percent, gold futures with a February 5, 2024 maturity date were trading at Rs 61877 per 10 grammes on the MCX. The price of silver futures, which mature on March 5, 2024, saw an decrease of 1.94 percent, and were trading at Rs 72900 per kg on the MCX.

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