Gold Rate Today: Gold is one of the most popular investment products in the world, especially in India. Like other financial assets, the price of gold fluctuates. Though the demand for the metal is one of the primary drivers, several other factors also influence the market price of gold. With inflation, the value of the currency declines. In such a case, one could decide to keep holding onto gold as cash. This leads to an increase in the price of gold, which functions as a kind of inflation hedge. In India, the price of a gram of 22-karat gold is currently Rs 5,650, while a gram of 24-karat gold is Rs 6,164.
Many buyers want to purchase gold items during festivals and mainly on the auspicious day of Dhanteras. So, the buyers wait for the low rates to buy such metals. But as of now, the prices of precious metals is everyday increasing since few days. Waiting upto Dhanteras to buy Gold at less price may be beneficial for buyers if the rates get low inclusive with any favourable offers.
Price of gold in some major cities
|Name of cities||Prices of 22k gold in rupees|
Gold Rate Today: On MCX
Gold can be purchased for a variety of purposes. It’s important to keep gold safe since some people pass it down for generations. It can be helpful throughout marriages or as a sort of future security. Some individuals seek advice from competent financial advisors, who recommend gold investments. The price of the 10-gram gold futures contract on the MCX increased by 0.19 percent on October 5, 2023, to Rs 61025. With delivery dates of September 5, 2023, the current value of silver futures contracts is Rs. 72287, up 1.24% from the contract’s value on December 5, 2023.
Investors can get gold exposure
Investors may purchase gold through exchange-traded funds (ETFs) or mutual funds. The value of funds with the most direct exposure is determined by the price of gold. One instrument used to charge investors for the expense of sustaining physical supplies is the expenditure ratio. There are a couple of issues: Because they are classified as collectibles, some gold funds are exempt from the lower long-term capital gains taxes that apply to stocks. Furthermore, since they produce no revenue, the premise may be undermined year after year by the expense ratio.
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