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
| Name of cities | Prices of 22k gold in rupees |
| Mumbai | 58100 |
| Delhi | 58250 |
| Kerala | 58100 |
| Pune | 58100 |
| Lucknow | 58250 |
| Patna | 58250 |
| Nagpur | 58100 |
| Chandigarh | 58100 |
| Surat | 58250 |
| Bhubaneswar | 58250 |
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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