Gold Rate Today: Gold should be a part of a well-diversified investment portfolio since its value increases in reaction to situations that lead paper investments like equities and bonds to lose value. Even if gold’s price fluctuates frequently in the short term, its value over the long term has never changed. Because gold has historically provided protection from inflation and the depreciation of important currencies, it is an investment that is absolutely worth considering. Currently, 22k gold costs Rs 5,484 per gram in India, whereas 24k gold, also known as 999 gold, costs Rs 5,983 per gram.
Price of gold in some major cities
| Name of cities | Prices of 24k gold in rupees |
| Mumbai | 59,830 |
| Delhi | 59,990 |
| Pune | 59,830 |
| Madurai | 60,210 |
| Vijayawada | 59,830 |
| Patna | 59,880 |
| Nagpur | 59,830 |
| Chandigarh | 59,990 |
| Surat | 59,880 |
| Bhubaneswar | 59,830 |
| Mangalore | 59,830 |
| Visakhapatnam | 59,830 |
Gold Rate Today: On MCX
On the MCX, the price of the 10-gram gold futures contract for October 5, 2023 dropped by 0.49% to Rs 58639. The value of silver futures with a delivery date of September 5, 2023, is currently Rs. 72000, up 0.08% from their December 5, 2023, expiration price. In recent years, gold has not yielded particularly notable returns. To increase your options, it is therefore advisable to just obtain. In the event that any other asset class—such as stocks or real estate—declined, gold would rise. Because of this, it is viewed as a safe haven asset.
Sovereign Gold Bond Scheme 2023-2024
The Sovereign Gold Bond Scheme 2023–2024 Series II will begin trading on September 11, 2023, and the price per gramme of gold is set at Rs 5,923, according to a statement made by the Reserve Bank of India on behalf of the Government of India. Investors who pay using digital methods receive an additional reduction of Rs. 50 per gramme, increasing the allure of the price to Rs. 5,873.
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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