Gold Rate Today: Precious metals on a roller coaster ride, prices move up; check current rates in your city here

Gold Rate Today: Gold hasn’t provided very impressive returns in recent years. It is therefore recommended that you only buy if you want to expand your possibilities. Gold would increase if any other asset type, like stocks or real estate, decreased in value. Because of this, it is regarded as a safe haven asset. From the ancient civilizations to the present, gold has been the most popular currency throughout history. Nowadays, investors mostly buy gold as a hedge against inflation and political unrest due to its low correlations to other asset classes. The current price of gold in India is Rs 5,485 per gram for 22k gold and Rs 5,984 per gram for 24k gold, commonly known as 999 gold.

Price of gold in some major cities

Gold Rate Today: On MCX

Gold would increase if any other asset type, such as equities or real estate, declined. For this reason, it is regarded as a safe haven asset. The MCX’s 10-gram gold futures contract for October 5, 2023, saw a 0.25 percent increase in price to Rs 58970. The current value of silver futures contracts with delivery dates of September 5, 2023 is Rs. 73377, which is 0.42% greater 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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