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HomeCURRENT AFFAIRSBUSINESSGold Rate Today: Prices of precious metals move up; Gold ETFs Explained

Gold Rate Today: Prices of precious metals move up; Gold ETFs Explained

In India, a gram of 22-karat gold now costs Rs 5,810, while a gram of 24-karat gold costs Rs 6,338.

Gold Rate Today: Nowadays, there is a significant increase in investment in online businesses since individuals are becoming more independent. Both stock market and gold investments are popular among investors. Investing in gold has never been simpler because it has always had excellent margins and a quick liquidity procedure. Those who are delaying their investment in precious metals until prices decline ought to wait a bit longer, as the prices of our precious metals such as gold and silver have somewhat climbed. In India, a gram of 22-karat gold now costs Rs 5,810, while a gram of 24-karat gold costs Rs 6,338.

What are Gold ETFs?

Gold ETFs are mutual funds that track the local price of actual gold. The fund management company uses your investment to buy gold bullion. Since gold ETFs are public and traded on stock exchanges, investing in them is safe and subject to tight regulations. Gold ETF units can be bought and sold on the stock exchange on the same day or any other day, just like equities.The minimum investment is one unit of the gold ETF, which is equal to the price of one gram of real gold. Because gold ETFs are listed, they may be traded easily and with great liquidity on the stock market.

Gold Rate Today: Checkout the rates on MCX

Gold futures with a February 5, 2024 maturity date were trading at Rs 62598 per 10 grams on the MCX, up 0.06 percent. Silver futures, which expire on March 5, 2024, gained 0.12 percent and were trading at Rs 71294 per kg on the MCX.

Price of gold in some major cities

Name of citiesPrices of 22k gold in rupees
Delhi58250
Kerala58100
Pune58100
Lucknow58250
Patna58250
Nagpur58100
Chandigarh58100
Surat58250
Bhubaneswar58250
Mumbai58100

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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