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Home CURRENT AFFAIRS BUSINESS Gold Rate Today: Prices slip further ; check current rates in your...

Gold Rate Today: Prices slip further ; check current rates in your city here from Lucknow to Mumbai

Prices for 22-karat and 24-karat gold in India are currently Rs 5,635 and Rs 6,145 per gram, respectively.

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Gold Rate Today: One of the earliest methods of portfolio diversification was the purchase of gold. Gold is still thought to be a smart investment to help stabilise portfolios and lessen market fluctuations. Gold should make up 5–10% of your entire portfolio, regardless of experience level or level of diversification. In India, the cost of 22-karat gold is currently Rs 5,635 per gram, whereas the cost of 24-karat gold is Rs 6,145 per gram.

Price of gold in some major cities

Name of citiesPrices of 22k gold in rupees
Mumbai 56350

Gold Rate Today: On MCX

One buys gold for a number of reasons. Some people pass down their gold through the centuries, so keeping it safe is essential. As a kind of future security or during marriages, it can be advantageous. Some people consult knowledgeable financial consultants, who suggest investing in gold. The October 5, 2023, 10-gram gold futures contract on the MCX saw a 0.20 percent decrease in price, reaching Rs 60616. The current value of silver futures contracts with delivery dates of September 5, 2023 is Rs. 72193, which represents a decrease of 0.98% from the contract’s value on December 5, 2023.

Exposure through mutual funds

Investors can get gold exposure through mutual funds and exchange-traded funds. The value of funds with the most direct exposure follows the price of gold. The expense ratio is used to pass on the cost of sustaining physical supplies to investors. There are some drawbacks: Because some gold funds are classified as collectibles, they are not eligible for the lower long-term capital-gains rates enjoyed by equities. Furthermore, because they do not create revenue, the expense ratio can eat away at the principle year after year.

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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