Gold Rate Today: You are aware that during these first few days of the year, a lot of companies provide discounts on a range of goods. We also want to let you know about some good news: The price of gold and silver has somewhat dropped. It would be very beneficial to invest now, especially in light of the recent decline in the price of gold. Gold has continuously maintained its value when other assets decline, demonstrating its resilience in erratic economic times. In unpredictable economic times, its value usually remains constant or even increases. One significant feature of the Indian financial scene is the continuous depreciation of the US dollar in relation to the Indian rupee.
What are the risk in investing in Gold Bullion?
Buying gold in coins or bars is one of the more satisfying ways to own the metal on an emotional level. Although owning something brings pleasure when you look at it and touch it, if you own more than a small portion of it, ownership also has significant disadvantages. The requirement to protect and insure physical gold is one of the biggest disadvantages. The largest danger is that, if you don’t keep your holdings secure, someone could physically take your gold.
The necessity to sell your gold presents the second-largest risk. Getting paid the full market value for your holdings can be challenging, particularly if they are coins and you need the money right away. Therefore, you might have to make the decision to sell your holdings for a much lower price than they would otherwise fetch on the national market.
Gold Rate Today: Checkout the rates on MCX
Gold futures with a February 5, 2024 maturity date were trading at Rs 61653 per 10 grams on the MCX, down 0.58 percent. Silver futures, which expire on March 5, 2024, loss 0.82 percent and were trading at Rs 71502 per kg on the MCX.
Price of gold in some major cities
| Name of cities | Prices of 22k gold in rupees |
| Delhi | 57850 |
| Kerala | 57700 |
| Pune | 57700 |
| Lucknow | 57850 |
| Patna | 57850 |
| Nagpur | 57700 |
| Chandigarh | 57700 |
| Surat | 57850 |
| Bhubaneswar | 57850 |
| Mumbai | 57700 |
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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