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HomeCURRENT AFFAIRSBUSINESSGold Rate Today: Prices move down South; check current rates in your...

Gold Rate Today: Prices move down South; check current rates in your city from Mumbai to Delhi

Gold is now selling at Rs 5,485 for 22k gold and Rs 5,984 for 24k gold, commonly known as 999 gold, in India. Due to the market being closed on Friday, these were the prices at the time.

Gold Rate Today: Gold is often regarded as a safe haven for investors during difficult times in other markets and economies. When inflation starts to exceed interest rates, investors start looking for more secure investments. During inflation, gold is seen as a hedge against it. In India, the price of gold is currently Rs 5,485 for 22k gold and Rs 5,984 for 24k gold, also referred to as 999 gold. These were the prices as of Friday because the market was closed.

Prices of gold in some major cities

Name of cities Prices of 24k gold in rupees

Gold Rate Today: On MCX

The cost of the October 5, 2023, 10-gram gold futures contract on the MCX decreased by 0.17% to Rs 58900. The price of silver futures with a September 5, 2023, delivery date is currently Rs. 71571, down 0.28% from the price at which they would expire on December 5, 2023. In recent years, gold hasn’t produced particularly outstanding returns. Therefore, it is preferable to merely buy in order to increase your options. Any other asset type, such as shares or real estate, would fall if gold increased. As a result, it is considered a haven asset.

How to check the purity of gold?

Before buying gold, evaluate its purity, which is measured in carats, with 24 carats being the purest. 24K gold is pliable and liquid, and to become stronger, it must be alloyed with other metals. For example, 22k gold is made up of 22 parts gold (91.6 percent) and 2 parts other metals. The purer the gold, the higher the price.

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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