Gold Rate Update: Prices move up yet again; Check current rates in your city from Mumbai to Lucknow

Gold Rate Update

Gold Rate Update: Physical gold investing might be challenging for people who are used to trading stocks and bonds online. When it comes to real gold, you’ll nearly always have to deal with dealers that aren’t standard brokerages, and you’ll almost certainly have to pay for storage and insurance on your investment. The three most prevalent ways to invest in genuine gold are bullion, coins, and jewellery. 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 citiesPrices of 22k gold in rupees

Gold Rate Update: On MCX

Shares in gold mining companies can be purchased by investors as individual stocks or as part of a fund. When buying gold in various forms, investors must consider shipping, storage, and insurance, in addition to paying a premium over the current gold price. The 10-gram gold futures contract on the MCX gained 0.46 percent to Rs 58183 on October 5, 2023. Silver futures contracts with September 5, 2023 delivery dates are currently at Rs. 69690, which is Rs. 0.89% more than the contract’s value on December 5, 2023.

Gold funds that invest in the metal

Investors can get gold exposure through mutual funds and exchange-traded funds. The value of funds with the most direct exposure follows the price of gold. The expense ratio is used to pass on the cost of sustaining physical supplies to investors. There are some drawbacks: Because some gold funds are classified as collectibles, they are not eligible for the lower long-term capital-gains rates enjoyed by equities. Furthermore, because they do not create revenue, the expense ratio can eat away at the principle year after year.

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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