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

Gold Rate Update: Due to its low correlation with other asset classes such as equities and bonds, gold can play an important role in portfolios: diversification. Gold’s ability to act as a “store of value” might help decrease risk during times of market instability and economic uncertainty. It could be useful as an inflation hedge. Furthermore, gold has historically had an inverse relationship with the US dollar, which implies that when the USD falls in value, gold prices rise. Gold costs Rs 5,365 per gram in India now for 22 karat gold and Rs 5,853 per gram for 24 karat gold.

Price of gold in some major cities

Gold exchange-traded funds

Gold exchange-traded funds (ETFs) are mutual funds that track the domestic price of physical gold. Your investment is used by the fund management business to purchase gold bullion. Investing in gold ETFs is secure and closely regulated because they are listed and traded on stock markets. Gold ETF units can be bought and sold on the stock exchange on the same day or any other day, exactly like equities.The minimum investment is one unit of gold ETF, which is equivalent to the cost of one gramme of actual gold. Gold ETFs have significant liquidity and can be traded in the stock market because they are listed.

Gold Rate Update: Prices on MCX

Purchasing investment bars and coins from a bank or reputable dealer is one of the easiest methods to obtain gold as an investment. Investors must take care of shipping, storage, and insurance as well as paying a premium over the current gold price when purchasing gold in various forms. The price of the 10-gram gold futures contract on the MCX increased by 0.41 percent to Rs 57866 on October 5, 2023. With delivery dates of September 5, 2023, silver futures contracts currently have a value of Rs. 69687, which is Rs. 1.12% more 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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