Gold Rate Update: Gold has always shown to be a dependable investment during erratic economic times, often increasing in value when other assets do not. Its value usually stays the same or even rises in an unstable economy. The US dollar’s ongoing depreciation against the Indian rupee is one aspect of the Indian financial scene that sets it apart. Gold is a popular stand-in because it tends to appreciate in value in response to fluctuations in exchange rates. Given that the price of gold has recently somewhat increased, you might want to postpone investing.
How Gold ETF works?
Mutual funds called Gold ETFs follow the local price of physical gold. The fund management business purchases gold bullion with your investment. Investing in gold ETFs is secure and strictly regulated since they are listed and traded on stock exchanges. Similar to stocks, you can purchase and sell units of gold ETF on the stock exchange on the same day or any other day.One unit of the gold ETF, which is equivalent to the cost of one gramme of real gold, is the minimum investment. Gold ETFs are highly liquid and simple to trade on the stock market because they are listed.
Gold Rate Update: Price of gold in some major cities
| Name of cities | Prices of 22k gold in rupees |
| Mumbai | 57700 |
| Delhi | 57850 |
| Kerala | 57700 |
| Pune | 57700 |
| Lucknow | 57850 |
| Patna | 57850 |
| Nagpur | 57700 |
| Chandigarh | 57700 |
| Surat | 57850 |
| Bhubaneswar | 57850 |
Gold Rate Update: Checkout the rates on MCX
The historically low correlation of gold with other financial assets makes it a popular choice among investors as a hedge against potential economic downturns. Rising gold prices usually result in lower bond yields. With a slight increase of 0.31 percent, gold futures with a February 5, 2024 maturity date were trading at Rs 62288 per 10 grammes on the MCX. The price of silver futures, which mature on March 5, 2024, saw an increase of 0.19 percent, and were trading at Rs 72561 per kg on the MCX.
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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