Gold Rate Today: Seesaw continues, price of precious metals slip again; check current rates in your city here

Gold Rate Today: Inflation has little influence over gold prices in India these days. There is a debate among some people over the idea that rising inflation also means rising prices for commodities like gold. In actuality, gold prices only decrease in response to increases in inflation. Those who assert that the direction of inflation and gold prices are the same are misstating the case. In India, the cost of 22-karat gold is currently Rs 5,680 per gram, whereas the cost of 24-karat gold is Rs 6,196 per gram.

Price of gold in some major cities

Check Gold Rate Today On MCX

One of the numerous factors influencing the price of gold and silver in India is the rupee's value in relation to the US dollar. The global demand for precious metals has a significant impact on fluctuations in their price. Gold futures with a December 5, 2023, maturity date were trading at Rs 60810 per 10 grams on the MCX, down barely 0.23 percent. Silver futures, which mature on December 5, 2023, had a price decline of 0.19% and were trading at Rs 71446 per kg on the MCX.

Gold Investment Provides High Cash Flow

If you have any gold coins or jewellery, you can sell them at any moment at a nearby jewellery store to liquidate your holdings. Shares and mutual funds can also be easily converted into cash. However, it may take a few days for these things to be reclaimed and the sale revenues to be refunded to your bank account. Gold, in contrast to these securities, is more liquid.

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.)

Also Read: Gold Rate Today: Price of yellow metal rises to the seventh heaven while silver halts. These are the prices from Delhi to Bangalore

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