Gold Rate Today: In a place like India, where it has been used for a very long time as an ornament and investment, gold is always in trend. There are other ways to invest in gold in India besides buying gold coins, bullion, or jewellery. Options for saving on gold are also offered. Which gold investment strategy is ideal depends on a variety of criteria, such as investment magnitude, liquidity needs, and personal preferences. In India, the cost of 22-karat gold is currently Rs 5,554 per gram, while 24-karat gold is priced at Rs 6,059 per gram.
Checkout the rates on MCX
On the MCX, gold futures with a December 5, 2023, maturity date were trading at Rs 59775 per 10 grams, following a slight increased of 0.09 percent. On the other hand, December 5, 2023, maturing silver futures saw a increased of 0.12 percent, and were trading at Rs 69990 a kg on the MCX. There are several uses for purchasing gold. Because some individuals pass their gold down for years, it’s crucial to keep it safe. It might serve as a kind of future security or be beneficial throughout marriages. Some people consult with knowledgeable financial consultants, who suggest gold investments.
Price of gold in some major cities
|Name of cities||Prices of 22k gold in rupees|
Gold Rate Today: What are gold ETFs?
Gold ETFs are mutual funds that follow changes in the domestic price of physical gold. The fund management company purchases gold bullion with your money. Because gold ETFs are listed and traded on stock markets, investing in them is secure and governed by tight regulations. The same day, or any other day, you can buy and sell units of gold ETF on the stock exchange, just like equities.The minimum investment is one unit of the gold ETF, which is equal to the price of one gramme of genuine gold. Due to their listing, gold ETFs have excellent liquidity and are easy to trade on the stock market.
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