Gold Rate Update: A number of well-known investment professionals suggest dedicating a portion of your portfolio to commodities like gold to lower overall portfolio risk. There are many more ways to invest in gold, besides bullion (gold bars), mutual funds, futures, mining companies, and jewellery. With very few exceptions, the only options to invest in gold directly are through bullion, futures, and a few specialised funds. Other investments’ value is derived in part from unrelated resources. The current price of gold in India is Rs 5,450 per gram for 22k gold and Rs 5,945 per gram for 24k gold, commonly known as 999 gold.
Price of gold in some major cities
| Name of cities | Prices of 22k gold in rupees |
| Mumbai | 54500 |
| Delhi | 55650 |
| Kerala | 54500 |
| Pune | 54550 |
| Lucknow | 55650 |
| Patna | 55000 |
| Nagpur | 54550 |
| Chandigarh | 55650 |
| Surat | 54550 |
| Bhubaneswar | 54500 |
Gold Rate Update: Prices on MCX
From prehistoric societies to the present, gold has been the currency of choice for transactions. Today, investors often buy gold as a hedge against inflation and political unrest because it has little correlation to other asset classes. The best inflation hedge has constantly been shown to be gold. Investors now more than ever consider gold to be a crucial asset. The price of the 10-gram gold futures contract on the MCX dropped by 0.34 percent to Rs. 58232 and has an expiration date of October 5, 2023. Silver futures with a delivery date of September 5, 2023 are currently offered, priced at Rs. 71343, down 0.60 percent.
Here’s how to check the gold purity
Currently, there is an app available from the government that allows you to check the purity of gold. Using the BIS Care app, customers may determine the purity of gold. Not only can you examine the purity of gold using this app, but you can also complain about it.
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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