Gold Rate Update: Gold has historically shown itself to be resilient in erratic economic times, often rising in value when other assets fall in value. Its value often holds steady or even rises in an uncertain economy. The ongoing depreciation of the US dollar relative to the Indian rupee is one aspect of the Indian financial scene that sets it apart. Given that gold tends to appreciate in value in response to fluctuations in exchange rates, it has gained popularity as a stand-in. The price of gold has recently increased slightly, so you might want to postpone investing.
Gold is an extremely effective portfolio diversifier, why?
Some economists contend that gold is a very effective portfolio diversifier due to its low to negative correlation with all other major asset classes. However, gold usually doesn’t show any statistically significant correlation with other well-liked asset classes. However, some claim there is evidence of a negative correlation between gold and stocks during times of sharp declines in the stock market. Gold acts as a hedge against portfolio volatility because macro- and microeconomic factors that affect the returns of most asset classes have minimal impact on the price of gold. For a certain degree of return, adding gold to a portfolio can reduce its risk or volatility.
Gold Rate Update: Price of gold in some major cities
| Name of cities | Prices of 22k gold in rupees |
| Mumbai | 58100 |
| Delhi | 58250 |
| Kerala | 58100 |
| Pune | 58100 |
| Lucknow | 58250 |
| Patna | 58250 |
| Nagpur | 58100 |
| Chandigarh | 58100 |
| Surat | 58250 |
| Bhubaneswar | 58250 |
Gold Rate Update: Checkout the rates on MCX
The historically low correlation of gold with other financial assets makes it a popular choice among investors as a hedge against potential economic downturns. Rising gold prices usually result in lower bond yields. With a slight increase of 0.31 percent, gold futures with a February 5, 2024 maturity date were trading at Rs 62698 per 10 grammes on the MCX. The price of silver futures, which mature on March 5, 2024, saw an increase of 0.03 percent, and were trading at Rs 72354 per kg on the MCX.
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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