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HomeCURRENT AFFAIRSBUSINESSGold Rate Today: Prices rise; should you wait? Check current rates in...

Gold Rate Today: Prices rise; should you wait? Check current rates in your city here

In India, the cost of 22-karat gold is currently Rs 5,640 per gram, whereas the cost of 24-karat gold is Rs 6,153 per gram.

Gold Rate Today: In India, the price of a gramme of 22-karat gold is currently Rs 5,640, and a gramme of 24-karat gold is Rs 6,153. It may be difficult for those accustomed to online stock and bond trading to invest in physical gold. You will almost certainly have to pay for storage and investment insurance when dealing with real gold, and you will almost always have to deal with dealers who aren’t typical brokerages. The three most common ways to purchase real gold are as jewellery, coins, and bullion.

Price of gold in some major cities

Name of citiesPrices of 22k gold in rupees

Mutual funds and exchange-traded funds

Mutual funds and exchange-traded funds are two ways that investors might gain exposure to gold. The price of gold determines the value of funds with the highest direct exposure. The expenditure ratio is a tool used to charge investors for the cost of maintaining physical supplies. There are a few shortcomings: Certain gold funds are not entitled to the lower long-term capital gains rates that apply to stocks since they are categorised as collectibles. Moreover, year after year, the principle may be eroded by the expense ratio as they generate no money.

Gold Rate Today: On MCX

Investors can buy individual stocks in gold mining firms or buy shares as part of a fund. Investors purchasing gold in different forms need to pay a premium above the current gold price in addition to taking transportation, storage, and insurance into account. On October 5, 2023, the 10-gram gold futures contract on the MCX increased by 1.09 percent to Rs 60973. The current price of silver futures contracts with delivery dates of September 5, 2023 is Rs. 73169, which is Rs. 2.17% higher than the contract’s value on December 5, 2023.

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: OPPO F21s Pro VS OPPO F21 PRO: Specifications, features and price compared to facilitate decision making

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