Gold Rate Today: Prices of precious metals move up at the start of Navratri; check current rates in your city here

Gold Rate Today: Happy Navratri to our readers. After going down for days the prices of gold and silver are increasing daily. And also on the first day of the Navratri the prices increased again. Since ancient times, gold has represented riches and success. One of the earliest forms of portfolio diversification was purchasing gold. Even today, gold is thought to be a smart investment for balancing portfolios and guarding against market fluctuations. Gold should make up 5–10% of your whole portfolio, whether you are an experienced investor or have a well-diversified holdings. An introduction to gold investing is provided here. This beginner’s guide to gold investing will address the benefits of investing in gold, how to do so, the tax implications of gold, and other important topics. Gold is now priced at Rs 5,400 per gramme for 22 karat gold and Rs 5,891 per gramme for 24 karat gold in India.

Price of gold in some major cities

Gold Rate Update: On MCX

People invest in gold for a variety of reasons. For some, gold is passed down through generations, and it is crucial to preserve it. It can be useful during marriages or as a future security. Others seek the advice of experienced financial managers who encourage them to invest in gold. To reach Rs 59415, the price of the 10-gram gold futures contract for October 5, 2023 on the MCX up by 2.58 percent. The value of silver futures contracts with delivery dates of September 5, 2023 is currently Rs. 71368, which is 3.32% less than the contract’s value on December 5, 2023.

Gold Investment Provides High Cash Flow

If you have any gold coins or jewellery, you can sell them at any moment at a nearby jewellery store to liquidate your holdings. Shares and mutual funds can also be easily converted into cash. However, it may take a few days for these things to be reclaimed and the sale revenues to be refunded to your bank account. Gold, in contrast to these securities, is more liquid.

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.)

Also Read: Gold Rate Today: Price of yellow metal rises to the seventh heaven while silver halts. These are the prices from Delhi to Bangalore

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