Gold Rate Today: From the dawn of civilization to the present day, gold has been the preferred form of money worldwide. Due to its low correlation with other asset classes, investors now primarily purchase gold as a hedge against inflation and political upheaval. Furthermore, a lot of well-known financial advisors advise holding a portion of your portfolio in commodities, such as gold, to reduce overall portfolio risk. Gold can be invested in a variety of ways, such as jewellery, mining companies, mutual funds, futures, and bullion (i.e., gold bars). With rare exceptions, the only ways to directly invest in gold are through bullion, futures, and a select few specialty funds. Today’s gold prices in India are Rs 5,715 for 22-karat gold and Rs 6,235 for 24-karat gold per gram.
Gold Rate Today: Checkout the rates on MCX
With a slight increase of 0.8 percent, gold futures with a February 5, 2024 maturity date were trading at Rs 61770 per 10 grammes on the MCX. The price of silver futures, which mature on March 5, 2024, saw an increase of 0.03 percent, and were trading at Rs 72539 per kg on the 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.
Price of gold in some major cities
| Name of cities | Prices of 22k gold in rupees |
| Mumbai | 57150 |
| Delhi | 57300 |
| Kerala | 57150 |
| Pune | 57150 |
| Lucknow | 57300 |
| Patna | 57300 |
| Nagpur | 57150 |
| Chandigarh | 57150 |
| Surat | 57300 |
| Bhubaneswar | 57300 |
Gold Rate Today: What is Gold saving scheme?
A lot of jewellers have introduced gold savings plans in the last several years. You can deposit a set sum each month for the selected duration of time with gold or jewellery savings plans. You can purchase gold (from the same jeweller) at the conclusion of the term for a sum equal to the entire amount deposited plus a bonus. The gold price that is in effect on maturity is used for this conversion. At the conclusion of the term, the jeweller typically adds a month’s installment as a cash incentive or might even provide a gift.
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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