Gold Rate Update: A well-diversified investment portfolio should include gold since its price rises in response to events that cause the value of paper investments like stocks and bonds to decline. The long-term worth of gold has never changed, despite the fact that its price can be unpredictable in the short term. Gold is an investment that is definitely worth thinking about because it has historically served as a buffer against inflation and the depreciation of major currencies. The current price of gold in India is Rs 5,484 per gram for 22k gold and Rs 5,983 per gram for 24k gold, commonly known as 999 gold.
Prices of gold in some major cities
| Name of cities | Prices of 22k gold | Silver |
| New Delhi | Rs 54,990 | Rs 74,000 |
| Mumbai | Rs 54,850 | Rs 74,000 |
| Kolkata | Rs 54,850 | Rs 74,000 |
| Chennai | Rs 55,150 | Rs 77,500 |
Gold Rate Update: On MCX
The cost of the October 5, 2023, 10-gram gold futures contract on the MCX decreased by 0.14% to Rs 58845. Silver futures with a September 5, 2023, delivery date are currently worth Rs. 71837, down 0.15% from their December 5, 2023, expiration price. Gold has not produced particularly noteworthy returns in recent years. Therefore, it is advised to simply acquire to broaden your possibilities. Gold would increase if any other asset type, such as equities or real estate, declined. It is considered a safe haven asset as a result.
Sovereign Gold Bond Scheme 2023-2024
The Sovereign Gold Bond Scheme 2023–2024 Series II will begin trading on September 11, 2023, and the price per gramme of gold is set at Rs 5,923, according to a statement made by the Reserve Bank of India on behalf of the Government of India. Investors who pay using digital methods receive an additional reduction of Rs. 50 per gramme, increasing the allure of the price to Rs. 5,873.
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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