Gold Rate Today: Prices of precious metals move up! Check rates before you head to the market

Gold Rate Today: Even with the abundance of readily available precious metals, gold remains a great investment. Gold is one of the most popular investment options in India because of its high liquidity and tendency to outperform inflation. Gold can be purchased through exchange-traded funds, sovereign gold bond schemes, gold coins, bars, jewellery, gold ETFs, and other products. On the other hand, you can temporarily stop investing in gold because the price of yellow metal has somewhat increased.

What is the lowest and highest investment in SGBs?

Sovereign Gold Bonds (SGBs) are offered in several grammes, requiring only a single gramme of gold as a minimum commitment. The gold bonds are offered for sale in units, with each unit deriving its value from a gramme of gold that is 999 pure. SGBs allow a person to invest up to four kilogrammes annually, while trusts are limited to 20 kilogrammes annually. On the redemption day, these holdings are redeemed for a sum equal to the current gold value. Investing in SGBs has the advantage of cheap transaction costs and an annual guaranteed interest rate of 2.5%. You can pay off the interest in half a year.

Gold Rate Update: Checkout the rates on MCX

Gold futures with a February 5, 2024 maturity date were trading at Rs 61975 per 10 grams on the MCX, up 0.17 percent. Silver futures, which expire on March 5, 2024, gain 0.31 percent and were trading at Rs 71035 per kg on the MCX.

Price of gold in some major cities

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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