Gold Rate Today: Yellow metal moves up, silver decreases; what you must know about Gold ETFs and mutual funds

Gold Rate Today: Although there are many different kinds of precious metals, gold is highly valued as an investment. Gold is one of the most favoured investment options in India because of a number of influencing factors, including its high liquidity and ability to beat inflation. Purchasing jewellery, coins, bars, gold exchange-traded funds, gold funds, sovereign gold bond schemes, and other items are just a few ways to invest in gold. In India, the cost of 22-karat gold is currently Rs 5,665 per gram, while the cost of 24-karat gold is Rs 6,180 per gram.

Know about Gold ETFs and Gold mutual funds

Mutual funds called Gold ETFs follow the local price of physical gold. The fund management business purchases gold bullion with your investment. Buying gold ETFs is safe and strictly regulated because they are listed and traded on stock exchanges. Similar to stocks, you can purchase and sell units of gold ETF on the stock exchange on the same day or any other day.One unit of the gold ETF, which is equivalent to the cost of one gramme of real gold, is the minimum investment. Gold ETFs are highly liquid and simple to trade on the stock market because they are listed. Gold ETF units are invested in by Gold Mutual Funds. The value of the underlying asset is directly correlated with the price of gold because it is held in physical form. This operates in the same manner as other mutual funds.

Gold Rate Update: Checkout the rates on MCX

Gold futures with a February 5, 2024 maturity date were trading at Rs 61225 per 10 grams on the MCX, up 0.07 percent. Silver futures, which expire on March 5, 2024, loss 0.53 percent and were trading at Rs 71481 per kg on the MCX.

Price of gold in some major cities

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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