Gold Rate Update: One of the most well-known precious metals in the world is gold. Gold is a universal resource that has been utilised historically for a wide range of purposes, including handcrafted jewellery, coinage, and a key component of electronics. Investors are still drawn to gold in the present day because it is a unique asset that provides an alternative to the well-established stock and bond markets. In India, the price of a gram of 22-karat gold is currently Rs 5,635; a gram of 24-karat gold is Rs 6,147.
Price of gold in some major cities
|Name of cities
|Prices of 22k gold in rupees
Investing in gold using Exchange Traded Fund
Using an Exchange Traded Fund (ETF), you can invest in gold without having to buy real gold assets. It is a fund that has investments in different assets backed by gold. While some gold exchange-traded funds (ETFs) solely track or mimic fluctuations in the price of real gold, others may additionally include derivatives backed by gold or equities of gold miners. The underlying asset, which also sets the fund’s value, affects the ETF’s performance.
Gold Rate Update: On MCX
Investors can buy individual stocks in gold mining firms or buy shares as part of a fund. Investors purchasing gold in different forms need to pay a premium above the current gold price in addition to taking transportation, storage, and insurance into account. On October 5, 2023, the 10-gram gold futures contract on the MCX decreased by 0.22 percent to Rs 60887 . The current price of silver futures contracts with delivery dates on September 5, 2023 is Rs. 72270, which is Rs. 0.02% higher than the contract’s value on December 5, 2023.
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.)