Gold Rate Today: Prices of precious metals move up further; Check current rates in your city here

Gold Rate Today: If you have any gold coins or jewellery, you can liquidate your assets at any time by selling it at a jewellery shop nearby. It is very simple to convert shares and mutual funds into cash. The sale proceeds may not appear in your bank account for a few days after these items are recovered. In contrast to these securities, gold has greater liquidity. Current gold prices in India are Rs 5,485 for 22k gold and Rs 5,984 for 24k gold, also known as 999 gold.

Price of gold in some major cities

Gold Rate Today: On MCX

Gold would increase in value if any other asset type, such as equities or real estate, declines. As a result, it is regarded as a safe haven asset. To reach Rs 58970, the price of the 10-gram gold futures contract for October 5, 2023 on the MCX climbed by 0.25 percent. The value of silver futures contracts with delivery dates of September 5, 2023 is currently Rs. 73377, which is 0.42% more than the contract’s value on December 5, 2023.

Importance of investing in gold

Gold has been the preferred form of payment from ancient civilizations to the present. Considering that gold has little link to other asset classes these days, investors typically purchase it as a hedge against inflation and political turmoil. To reduce total portfolio risk, a number of well-known investment gurus advise allocating a portion of your portfolio to commodities, such as gold.

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.)

Also Read: Gold Rate Today: Price of yellow metal rises to the seventh heaven while silver halts. These are the prices from Delhi to Bangalore

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