Gold Rate Today: Gold has always shown to be a stable investment during uncertain economic times, often rising in value when other assets fall in value. Its value typically stays the same or even rises in an uncertain economy. The US dollar’s ongoing depreciation against the Indian rupee is one aspect of the Indian financial scene that sets it apart. Given this, gold has gained popularity as a stand-in due to its propensity 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.
Why Gold is known as Diversifier?
Historically, holding gold has been seen as a hedge against economic downturns due to its low correlation with other investment asset classes. Specifically, there has historically been little correlation between gold and stock market performance, and gold tends to move against the dollar. This implies that times when the dollar is weaker could be favourable for gold prices. When faced with the possibility of a recession, investors may consider gold’s advantages as a hedge against drops in other asset classes. Historical data indicates that when inflation-adjusted bond yields decrease, gold prices typically rise. This implies that investing a portion of your portfolio in gold could make sense as a safety net against periods of slow economic growth.
Gold Rate Update: Price of gold in some major cities
Name of cities | Prices of 22k gold in rupees |
Mumbai | 58000 |
Delhi | 58100 |
Kerala | 58000 |
Pune | 58000 |
Lucknow | 58100 |
Patna | 58100 |
Nagpur | 58000 |
Chandigarh | 58000 |
Surat | 58100 |
Bhubaneswar | 58100 |
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 0.85 percent, gold futures with a February 5, 2024 maturity date were trading at Rs 63034 per 10 grammes on the MCX. The price of silver futures, which mature on March 5, 2024, saw an increase of 0.35 percent, and were trading at Rs 75705 per kg on the MCX.
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