Gold Rate Today: In a place like India where it has been used for a very long time as both an ornament and an investment, gold never truly goes out of vogue. The sole way to invest in gold in India is not through buying gold coins, bullion, or jewellery. There are alternative gold savings plans accessible. The optimal method for investing in gold will depend on a variety of criteria, including personal preferences, the quantity invested, and the need for liquidity. The current price of gold in India is Rs 5,505 per gram for 22k gold and Rs 6,005 per gram for 24k gold, commonly known as 999 gold.
Price of gold in some major cities
| Name of cities | Prices of 22k gold in rupees |
| Mumbai | 55050 |
| Delhi | 55200 |
| Kerala | 55050 |
| Pune | 55050 |
| Lucknow | 55200 |
| Patna | 55100 |
| Nagpur | 55050 |
| Chandigarh | 55200 |
| Surat | 55100 |
| Bhubaneswar | 55050 |
| Dehradun | 54384 |
Prices on MCX
Gold has been the preferred form of payment throughout history, from the earliest civilizations to the present. Because gold has low correlations to other asset classes today, investors mostly purchase it as a hedge against inflation and political turmoil. Gold has consistently been proved to be the best inflation hedge. More than ever, investors view gold as a critical investment. On the MCX, the cost of the 10-gram gold futures contract with an expiration date of October 5, 2023 decreased by 1.00 percent to Rs. 58810. The price of silver futures with a delivery date of September 5, 2023 has increased by 0.45 percent to Rs. 72900.
Gold Rate Today: Types of gold Investment
In order to reduce total portfolio risk, several renowned investing experts also advise allocating a portion of your portfolio to commodities, like gold. Gold investments can be made in a variety of ways, such as bullion (gold bars), mutual funds, futures, mining firms, and jewellery. With few exceptions, the only ways to invest directly in gold are through bullion, futures, and a few specialised funds. The value of other investments comes in part from outside sources.
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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