Gold Rate Today: Prices slip further; should you shop for wedding? Check current rates in your city here

Gold Rate Today: The days of ladies wearing gold jewellery as a decorative element during festivities are long gone. Even institutional investors are investing in this asset, which generates long-term profits, due to the shifting rate of economic growth. Additionally, it serves as a diversifier, offsetting losses sustained during stock market volatility. One of the well-known liquid assets that is useful in tumultuous times is precious metal. The yellow metal protects against depreciation of currency and inflation. In India, the price of a gram of 22-karat gold is currently Rs 5,810, while a gram of 24-karat gold is Rs 6,338.

Price of gold in some major cities

Gold futures can be speculative

Investing in gold can be done through gold futures, but they are very speculative and can be dangerous for first-time buyers. With gold futures, a buyer and seller engage into a contract whereby the buyer commits to buying a predetermined quantity of gold at a predetermined price on a predetermined date, regardless of the state of the market. That implies that you could lose a lot of money (or your entire investment) if you hold the investment and the price drops right before the contract expires.

Gold Rate Today: On MCX

On the MCX, gold futures with a December 5, 2023, maturity date were trading at Rs 62718 per 10 grams following a 0.01 percent loss. On the other hand, maturing silver futures had a 0.07% decrease and were trading at Rs 77050 per kilogramme on the MCX 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.)

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