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Home CURRENT AFFAIRS BUSINESS Gold Rate Update: Prices move up; check current rates in your city

Gold Rate Update: Prices move up; check current rates in your city

The current price of gold in India is Rs 5,595 per gram for 22 karat gold and Rs 6,104 per gram for 24 karat gold.

Gold Rate Update

Gold Rate Update: Gold investments can be liquidated much faster than other physical assets such as real estate. Gold investments, with the exception of sovereign gold bonds, have no lock-in period. The redemption amount for genuine gold will vary depending on the purity, market value, and other considerations. We can borrow money secured by gold in times of need. Today’s gold price in India is Rs 5,595 per gram for 22 karat gold and Rs 6,104 per gram for 24 karat gold.

Price of gold in some major cities

Name of citiesPrices of 22k gold in rupees
Mumbai55950
Delhi56100
Kerala55950
Pune55950
Lucknow56100
Patna56100
Nagpur55950
Chandigarh55950
Surat56100
Bhubaneswar56100

Checkout the rates on MCX

Numerous investors incorporate gold into their portfolios as a safeguard against future economic downturns due to its historical low correlation with other investment assets. Bond yields typically decrease when gold prices rise. Although buying gold during a recession or at any other point in the economic cycle may have advantages, the effectiveness of this investment plan will determine how well it performs. Gold futures with a December 5, 2023, maturity date were trading at Rs 60308 per 10 grammes on the MCX after a slight increase of 0.33 percent. Conversely, on December 5, 2023, maturing silver futures saw a 0.74% increase and were selling at Rs 72905 per kilogramme on the MCX.

Gold Rate Update: Where to invest when you are a beginner?

Investing in gold can be made easiest and safest via mutual funds and exchange-traded funds (ETFs). You can easily buy or sell these securities in your retirement account or brokerage account, as each share of these securities represents a fixed amount of gold. First-time investors can consider gold mutual funds and ETFs due to their affordable costs and minimal investment requirements.

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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