Gold Rate Today: Prices of yellow metal increase, silver moves down; check current rates in your city here

Gold Rate Today: Investing in gold is advantageous since it outperforms inflation. The return on gold investment has historically tracked the pace of inflation. Gold is inversely related to equities investments. For example, if the equities markets begin to fall, gold will do strongly. Including gold as an investment choice in your portfolio will act as a buffer against overall portfolio volatility. Gold is now priced at Rs 5,400 per gram for 22 karat gold and Rs 5,891 per gram for 24 karat gold in India.

Price of gold in some major cities

Gold Rate Today: On MCX

Gold's value would rise if the value of any other asset kind, such as stocks or real estate, fell. As a reason, it's considered a safe haven asset. The price of the 10-gram gold futures contract for October 5, 2023 on the MCX rose by 0.07 percent to Rs 57982. The current value of silver futures contracts with September 5, 2023 delivery dates is Rs. 69105, which is 0.46% less than the contract's value on December 5, 2023.

How to invest in gold?

The 'golden question' in this case is how to invest in gold. Traditionally, this was accomplished by purchasing actual gold in the form of coins, bullions, antiquities, or jewellery. There are, however, newer types of gold investments available today, such as gold ETFs (exchange-traded funds) and gold mutual funds. Gold ETFs are akin to purchasing an equivalent amount of physical gold, but without the trouble of storing the physical gold. As a result, because the gold is housed in Demat (paper) form, there is no risk of theft or burglary. Gold funds are funds that invest in gold mining firms.

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.)

Also Read: Gold Rate Today: Price of yellow metal rises to the seventh heaven while silver halts. These are the prices from Delhi to Bangalore

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