Gold Rate Update: Prices increase amidst Ganesh Chaturthi festivities, check rates here from Mumbai to Lucknow

Gold Rate Update: Several well-known investing professionals also suggest dedicating a percentage of your portfolio to commodities, such as gold, in order to lower overall portfolio risk. There are numerous ways to invest in gold, including bullion (gold bars), mutual funds, futures, mining companies, and jewellery. With very few exceptions, bullion, futures, and a few specialised funds are the only means to invest directly in gold. Other investments' value is derived in part from extraneous resources. The current price of gold in India is Rs 5,485 per gram for 22k gold and Rs 5,984 per gram for 24k gold, commonly known as 999 gold.

Price of gold in some major cities

Gold Rate Update: Prices on MCX

From the ancient civilizations to the present, gold has been the currency of choice for payments. Investors primarily buy gold as a hedge against inflation and political unrest nowadays since it has minimal correlations to other asset classes. The best inflation hedge has constantly been proven to be gold. Investors now more than ever consider gold to be a crucial investment. The price of the 10-gram gold futures contract on the MCX climbed by 0.09 percent to Rs. 58877 with an expiration date of October 5, 2023. Silver futures with a delivery date of September 5, 2023 are now priced at Rs. 73572, up 0.69 percent.

Here’s how to check the gold purity

Currently, there is an app available from the government that allows you to check the purity of gold. Using the BIS Care app, customers may determine the purity of gold. Not only can you examine the purity of gold using this app, but you can also complain about it.

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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