Gold Rate Update: Gold has been a symbol of wealth and prosperity since antiquity. Investing in gold was one of the first methods of portfolio diversification. Even today, gold is regarded as a wise investment for hedging portfolios and protecting against market swings. Whether you are new to investing or have a well-diversified portfolio, gold should account for 5-10% of your whole portfolio. Here is a gold investment guide for novices. This gold investment guide for beginners will cover why you should invest in gold, how to invest in gold, gold tax rates, and what to consider while investing in gold. Gold is now priced at Rs 5,400 per gram for 22 karat gold and Rs 5,891 per gram for 24 karat gold in India.
Price of gold in some major cities
| Name of cities | Prices of 22k gold in rupees |
| Mumbai | 54000 |
| Delhi | 54150 |
| Kolkata | 54000 |
| Bangalore | 54000 |
| Pune | 54000 |
| Vadodara | 54050 |
| Jaipur | 54150 |
| Lucknow | 54150 |
Gold Rate Update: On MCX
People invest in gold for a variety of reasons. For some, gold is passed down through generations, and it is crucial to preserve it. It can be useful during marriages or as a future security. Others seek the advice of experienced financial managers who encourage them to invest in gold. To reach Rs 58115, the price of the 10-gram gold futures contract for October 5, 2023 on the MCX up by 0.30 percent. The value of silver futures contracts with delivery dates of September 5, 2023 is currently Rs. 69850, which is 0.62% more than the contract’s value on December 5, 2023.
Gold Investment Provides High Cash Flow
If you have any gold coins or jewellery, you can sell them at any moment at a nearby jewellery store to liquidate your holdings. Shares and mutual funds can also be easily converted into cash. However, it may take a few days for these things to be reclaimed and the sale revenues to be refunded to your bank account. Gold, in contrast to these securities, is more liquid.
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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