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HomeCURRENT AFFAIRSBUSINESSGold Rate Today: Respite for shoppers in the wedding season; prices slip!...

Gold Rate Today: Respite for shoppers in the wedding season; prices slip! Check current rates in your city here

In India, the cost of 22-karat gold is currently Rs 5,845 per gram, whereas 24-karat gold is priced at Rs 6,376 per gram.

Gold Rate Today: People who want to add some diversity to their investments may want to consider putting money into gold. Because of its propensity to preserve wealth and offer stability in unpredictable economic times, gold has long been a preferred investment. One thing to keep in mind when thinking about gold jewellery as an asset or investment is the making charges. Depending on design and craftsmanship, making fees can differ greatly, but they have no investment value—you will only be paid for pure gold. In India, the price of a gram of 22-karat gold is currently Rs 5,845, while a gram of 24-karat gold is Rs 6,376.

Price of gold in some major cities

Name of citiesPrices of 22k gold in rupees
Delhi58600
Kolkata58450
Bangalore58450
Pune58450
Vadodara58500
Jaipur58600
Lucknow58600

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 decreased by 0.00 percent on October 5, 2023, to Rs 63355. With delivery dates of September 5, 2023, the current value of silver futures contracts is Rs. 77965, down 0.06% 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.

Gold Rate Today: Investing in gold coins is good option

Although half-ounce and quarter-ounce coins are also available, the majority of gold coins have an ounce or two weight. Collectible gold coins, such South African Krugerrands, Canadian Maple Leafs, and American Gold Eagles, are the most commonly accessible. One thing to bear in mind is that the value of gold coins does not always correspond to their gold content. Coins that are in high demand are usually sold at a premium; however, local collectors or pawn shops may be able to offer better values. Even so, purchasing from a trustworthy, authorised dealer is still safer.

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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