Gold Rates Glitter on the day of Pran Pratishtha, prices move up!

Gold Rate Today: In India, the cost of 22-karat gold is currently Rs 5,780 per gram, whereas 24-karat gold is Rs 6,305 per gram. In unpredictable economic times, its value usually remains constant or even increases. The steady depreciation of the US dollar relative to the Indian rupee is a significant feature of the Indian financial landscape. Due to its capacity to increase in value in response to fluctuations in currency exchange rates, gold is a material that is growing in popularity. Given that the price of gold has recently somewhat decreased, you might want to invest right away. On the auspicious day of "Ram Mandir Pran Pratishtha" ceremony, the rate of precious metals moved up. So the buyers who are preparing to buy the golden items will have to face extra cost.

Checkout Gold investment vs Mutual funds

In India, gold investments have sentimental significance and were once used as money long before paper money was invented. Due to its worth, gold is a traditional investment option that can outpace inflation. Conversely, mutual funds [3] represent a contemporary investing instrument that aggregates the capital of individual investors and allocates it among stocks, bonds, and other securities. The popularity of mutual funds has increased recently because of its many advantages, including compounding, portfolio diversification, and a large range of selections.

Gold Rate Today: Price of gold in some major cities

Gold Rate Today: 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 increase of 0.07 percent, gold futures with a February 5, 2024 maturity date were trading at Rs 61988 per 10 grammes on the MCX. The price of silver futures, which mature on March 5, 2024, saw an increase of 0.07 percent, and were trading at Rs 71510 per kg on the MCX.

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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