Gold Rate Today: Everyone is buying gifts and other items in this year as there are so many platforms that are providing huge discounts and other benefits during Valentine’s Week. In addition, given the slight decline in the price of gold, this can be a great moment to get your significant other ornaments made of these precious metals. Gold has been the most extensively utilised form of money in the world from ancient times till the present. Gold is mostly purchased by investors as a hedge against inflation and political instability due to its low connection to other asset classes.
What are Sovereign Gold Bonds?
The safest way to purchase digital gold is through Sovereign Gold Bonds, which are issued by the Reserve Bank of India on behalf of the Indian government and come with a 2.50% annual guaranteed interest rate. The bonds have a basic unit of 1 gram and are valued in grammes of gold. There is a 4 kg maximum investment that can be made. These bonds have an eight-year term and an exit option that becomes available in the fifth year. Once more, it’s a hassle-free method of investing in gold because you own the metal without having any physical possession.
Gold Rate Today: Checkout the rates on MCX
Mutual funds and exchange-traded funds (ETFs) are generally the simplest and safest ways to invest in gold. Each share of these securities represents a fixed amount of gold, and you can easily purchase or sell them in your brokerage or retirement account. Because of their low cost and low minimum investment requirements, gold mutual funds and ETFs are an excellent choice for new investors. Gold futures with a February 5, 2024 maturity date were trading at Rs 62440 per 10 grams on the MCX, down 0.13 percent. Silver futures, which expire on March 5, 2024, up 0.36 percent and were trading at Rs 70562 per kg on the MCX.
Price of gold in some major cities
|Name of cities
|Prices of 22k gold in rupees
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