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HomeCURRENT AFFAIRSBUSINESSGold Rate Update: Prices of yellow metal increase, silver moves down; check...

Gold Rate Update: Prices of yellow metal increase, silver moves down; check current rates in your city

In India, 24 carat gold presently costs Rs 6,202 per gram, whereas 22 carat gold costs Rs 5,685 per gram.

Gold Rate Update: In one form or another, gold is present in most Indian houses. Indians have always bought gold to build up savings for important financial goals or rainy days. So, buying gold is seen as a way to provide financial support. At the moment, gold can be bought physically or with paper money. Each has a distinct method for buying the golden metal. The price of 24 carat gold is currently Rs 6,202 per gram in India, whereas the price of 22 carat gold is Rs 5,685 per gram.

What is Gold saving scheme?

In recent years, a lot of jewellers have launched gold savings schemes. Plans for saving money for gold or jewellery allow you to set aside a specific amount every month for as long as you like. The same jeweller will allow you to buy gold at the full value of your investment plus a bonus after the time limit has passed. This conversion is finished at the gold price that is in effect on maturity. At the end of the period, the jeweller typically offers a present item or adds a month’s installment as a financial incentive.

Price of gold in some major cities

Name of citiesPrices of 22k gold in rupees

Gold Rate Update: On MCX

Gold is one of the few tangible assets, therefore investors generally think it’s safe. Purchasing gold is easier than investing in other tangible assets, such as real estate. Furthermore, because gold is tangible, it is not susceptible to hacking or other forms of misuse, unlike digital assets. It does come with some danger, though. Therefore, remember these. On the MCX, gold futures with a December 5, 2023, maturity date were trading at Rs 61226 per 10 grams following a 0.01 percent gain. On the other hand, maturing silver futures had a 0.17% decline and were trading at Rs 73180 per kilogramme on the MCX 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.)

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