Gold Rate Update: With so many platforms offering huge discounts and other benefits, everyone is buying gifts and other goods in this new year. Moreover, given the slight decrease in the value of gold and silver, now might be a great time to purchase ornaments crafted from these precious metals. Gold has been the most extensively used form of money in the world from ancient times until the present. Gold is mostly purchased by investors as a hedge against inflation and political instability due to its low correlation to other asset classes.
How to invest in digital gold?
Digital gold can now be purchased on a number of Fintech platforms. You can begin buying digital gold with as little as one rupee at the beginning. At market prices, you can begin transacting digitally for gold and redeem it upon sale. The investment in digital gold is typically backed by real, physical gold because these platforms have partnerships with gold producers or traders. You have the option to receive physical delivery of gold for that amount in these transactions, or you can redeem your investment return value. It is crucial to remember that not every platform offers the ability to select actual gold. Right now, this is among the most well-liked gold investment options available on the market.
Gold Rate Update: Checkout the rates on MCX
Mutual funds and exchange-traded funds (ETFs) are generally the simplest and safest ways to invest in gold. Each share of these securities represents a fixed amount of gold, and you can easily purchase or sell them in your brokerage or retirement account. Because of their low cost and low minimum investment requirements, gold mutual funds and ETFs are an excellent choice for new investors. Gold futures with a February 5, 2024 maturity date were trading at Rs 62566 per 10 grams on the MCX, down 0.12 percent. Silver futures, which expire on March 5, 2024, loss 0.12 percent and were trading at Rs 72248 per kg on the MCX.
Price of gold in some major cities
Name of cities | Prices of 22k gold in rupees |
Delhi | 58150 |
Kerala | 58000 |
Pune | 58000 |
Lucknow | 58150 |
Patna | 58150 |
Nagpur | 58000 |
Chandigarh | 58000 |
Surat | 58150 |
Bhubaneswar | 58150 |
Mumbai | 58000 |
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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