Gold Rate Update: Prices of precious metals slip again; Check current rates in your city

Gold Rate Update: In a place like India, where it has been used for a very long time as an ornament and investment, gold is always in trend. There are other ways to invest in gold in India besides buying gold coins, bullion, or jewellery. Options for saving on gold are also offered. Which gold investment strategy is ideal depends on a variety of criteria, such as investment magnitude, liquidity needs, and personal preferences. In India, the price of a gram of 22-karat gold is currently Rs 5,625; a gram of 24-karat gold is Rs 6,136.

Prices of gold On MCX

Gold has been the most reliable inflation hedge for a long time. Investors consider gold to be an essential investment more than ever. The 10-gram gold futures contract, which expires on October 5, 2023, now costs Rs. 60444 on the MCX, up 0.54 percent. At Rs. 71322, the price of silver futures with a September 5, 2023 delivery date has climbed by 1.10 percent.

Price of gold in some major cities

Gold Rate Update: What are gold ETFs?

Gold ETFs are mutual funds that follow changes in the domestic price of physical gold. The fund management company purchases gold bullion with your money. Because gold ETFs are listed and traded on stock markets, investing in them is secure and governed by tight regulations. The same day, or any other day, you can buy and sell units of gold ETF on the stock exchange, just like equities.The minimum investment is one unit of the gold ETF, which is equal to the price of one gramme of genuine gold. Due to their listing, gold ETFs have excellent liquidity and are easy to trade on the stock market.

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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