Gold Rate Today: There are several factors influencing the price of gold in India right now. Any investment portfolio must include gold given the current gold rate in India. Gold changes in price every day. Precious metal prices are currently climbing. If you want to make money on gold investments, you have to invest for a long time. Gold also works well as collateral for gold loans. In India, the price of a gram of 22-karat gold is currently Rs 5,785, while a gram of 24-karat gold is Rs 6,311.
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 0.42 percent, gold futures with a February 5, 2024 maturity date were trading at Rs 62107 per 10 grammes on the MCX. The price of silver futures, which mature on March 5, 2024, saw an decrease of 1.24 percent, and were trading at Rs 75223 per kg on the MCX.
Price of gold in some major cities
|Name of cities
|Prices of 22k gold in rupees
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: Gold is tangible asset
Due to the fact that gold is one of the few tangible assets, investors tend to view it as safe. Compared to other physical investments like real estate, buying gold is simpler. Additionally, gold is unaffected by hacking and other misuses due to its tangibility, whereas digital assets are vulnerable to these issues. It does, however, carry some risk. Thus, keep these in mind.
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.)