Gold Rate Today: In the past, gold has proven to be resilient in uncertain economic times, frequently rising in value when other assets fall. In uncertain economic times, its value usually holds steady, if not increases. One distinguishing feature of the Indian financial scene is the steady decline in the value of the US dollar relative to the Indian rupee. In light of this, gold has become an appealing option because of its tendency to increase in value in response to changes in currency rates. You might want to put off investing because gold has recently seen a slight increase in price. In India, the cost of 22-karat gold is currently Rs 5,765 per gram, while the cost of 24-karat gold is Rs 6,289 per gram.
What is Sovereign Gold Bonds (SGB) and why it is a great choice for investment?
Sovereign Gold Bonds (SGB) are a great choice if you’re wondering how to invest in gold online. The Reserve Bank of India (RBI) introduced SGBs to assist the nation in lowering its reliance on other nations for the import of gold. Purchasing physical gold is comparable to investing in SGB, and you have complete control over the quantity of gold you wish to purchase. The SGB purchase window is periodically opened by the RBI and is available for purchase through banks or the RBI’s official website. You can still purchase SGB on stock exchanges after the purchase window has ended.
Gold Rate Today: Price of gold in some major cities
Name of cities | Prices of 22k gold in rupees |
Mumbai | 57650 |
Delhi | 57800 |
Kerala | 57650 |
Pune | 57650 |
Lucknow | 57800 |
Patna | 57800 |
Nagpur | 57650 |
Chandigarh | 57650 |
Surat | 57800 |
Bhubaneswar | 57800 |
Gold Rate Today: 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 2.38 percent, gold futures with a February 5, 2024 maturity date were trading at Rs 62654 per 10 grammes on the MCX. The price of silver futures, which mature on March 5, 2024, saw an increase of 5.14 percent, and were trading at Rs 75210 per kg on the MCX.
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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