Gold Rate Update: There are several factors influencing the price of gold in India right now. Any investment portfolio must include gold given the current gold rate in India. Gold changes in price every day. Precious metal prices are currently climbing. If you want to make money on gold investments, you have to invest for a long time. Gold also works well as collateral for gold loans. In India, the cost of 22-karat gold is currently Rs 5,770 per gram, whereas 24-karat gold is priced at Rs 6,295 per gram.
Price of gold in some major cities
| Name of cities | Prices of 22k gold in rupees |
| Mumbai | 57700 |
| Delhi | 57850 |
| Kerala | 57700 |
| Pune | 57850 |
| Lucknow | 57700 |
| Patna | 57700 |
| Nagpur | 57850 |
| Chandigarh | 57850 |
| Surat | 57700 |
| Bhubaneswar | 57700 |
Checkout the rates on MCX
Due to its historically low correlation with other financial assets, gold is a hedge against future economic downturns that is popular among investors. Bond yields typically decrease in response to rising gold prices. Gold futures with a February 5, 2024 maturity date were trading at Rs 62450 per 10 grammes on the MCX, down 0.03 percent from their previous price. The MCX experienced a 0.20 percent jump in the price of silver futures, which mature on March 5, 2024, and were trading at Rs 74460 a kg.
Gold Rate Update: What is Gold saving scheme?
In recent years, many jewellers have developed gold savings plans. Gold or jewellery savings programmes allow you to set aside a specified amount each month for the length of your choice. After the timer runs out, you can buy gold from the same jeweller for the amount you put plus a bonus. This conversion is done at the gold price in effect at maturity. At the end of the term, the jeweller usually gives a present item or adds a month’s installment as a monetary incentive.
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