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HomeCURRENT AFFAIRSBUSINESSGold Rate Today: Prices of precious metals slip during the wedding season;...

Gold Rate Today: Prices of precious metals slip during the wedding season; Should You Buy?

Today's gold price in India is Rs 5,755 per gramme for 22 karat gold and Rs 6,278 per gramme for 24 karat gold.

Gold Rate Today: Gold has long been seen as a safe haven investment due to its inverse relationship to the equity market. When the stock market crashes or declines, the demand (and thus the price) for gold usually rises. However, gold is much more than just an investment choice for Indians. The problem frequently occurs when Indians purchase gold for both personal and investment purposes.

Gold Rate Update: On MCX

On the MCX, gold futures with a maturity date of February 5, 2024, were trading at Rs 62310 per 10 grams, down 0.21 percent from their previous price. The price of silver futures, which mature on March 5, 2024, fell by 0.90 percent on the MCX and were trading at Rs 74156 a kilogram. 

Price of gold in some major cities

Name of citiesPrices of 22k gold in rupees
Mumbai57550
Delhi57700
Kerala57550
Pune57550
Lucknow57700
Patna57700
Nagpur57550
Chandigarh57550
Surat57700
Bhubaneswar57700

How can you invest in physical gold?

Those who are more used to trading equities and bonds online may find it difficult to invest in actual gold. You will typically deal with dealers who are not part of standard brokerages when it comes to physical gold, and you will probably have to pay for storage as well as get insurance for your investment. Bullion, coins, and jewellery are the three basic ways that one can invest in actual gold.

Gold Rate Today: What is Gold saving scheme?

A lot of jewellers have introduced gold savings plans in the last several years. You can deposit a set sum each month for the selected duration of time with gold or jewellery savings plans. You can purchase gold (from the same jeweller) at the conclusion of the term for a sum equal to the entire amount deposited plus a bonus. The gold price that is in effect on maturity is used for this conversion. At the conclusion of the term, the jeweller typically adds a month’s installment as a cash incentive or might even provide a gift.

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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