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Home CURRENT AFFAIRS BUSINESS Gold Rate Update: Prices of precious metals slip on Navratri; check current...

Gold Rate Update: Prices of precious metals slip on Navratri; check current rates in your city

In India, the price of gold is currently Rs 6,145/g for 24 carats and Rs 5,635/g for 22 carats.

Gold Rate Update

Gold Rate Update: Investing in physical gold can be difficult for people who are used to trading stocks and bonds online. When it comes to real gold, you almost always have to deal with traders who are not regular brokers, and you almost certainly have to pay for storage and insurance on your investment. The three most common ways to invest in real gold are bullion, coins, and jewelry. Gold price in India today is Rs 5,635/g for 22 carat gold and Rs 6,145/g for 24 carat gold.

Price of gold in some major cities

Name of citiesPrices of 22k gold in rupees
Mumbai56350
Nagpur56350
Visakhapatnam56350
Delhi56500
Kolkata56350
Bangalore56350
Pune56350
Vadodara56400
Jaipur56500
Lucknow56500

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 decrease 0.03 percent to Rs 60720 on October 5, 2023. Silver futures contracts with September 5, 2023 delivery dates are currently at Rs. 72490, which is Rs. 0.57% 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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