Gold Rate Today: Prices move up; check current rates in your city here from Delhi to Mumbai

Gold Rate Today: In a country like India, where gold is used not just as jewellery but also as an investment, gold never goes out of style. While there are a variety of gold saving plans available in India in addition to purchasing gold coins, bullion, and jewellery, the optimal way to invest in gold would depend on personal tastes and criteria such as the amount of investment and the requirement for liquidity. Digital gold is a virtual investment, whereas gold ETFs and gold mutual funds are better suited to persons who are already experienced with stock and mutual fund investments. Sovereign gold bonds, on the other hand, provide a government-backed investment option in gold. Gold costs Rs 5,250 per gram in India now for 22 karat gold and Rs 5,723 per gram for 24 karat gold.

Gold exchange-traded funds

Gold exchange-traded funds (ETFs) are mutual funds that track the domestic price of physical gold. Your investment is used by the fund management business to purchase gold bullion. Investing in gold ETFs is secure and closely regulated because they are listed and traded on stock markets. Gold ETF units can be bought and sold on the stock exchange on the same day or any other day, exactly like equities.The minimum investment is one unit of gold ETF, which is equivalent to the cost of one gramme of actual gold. Gold ETFs have significant liquidity and can be traded in the stock market because they are listed.

Price of gold in some major cities

Gold Rate Today: Prices on MCX

Purchasing investment bars and coins from a bank or reputable dealer is one of the easiest methods to obtain gold as an investment. Investors must take care of shipping, storage, and insurance as well as paying a premium over the current gold price when purchasing gold in various forms. The price of the 10-gram gold futures contract on the MCX increased by 0.44 percent to Rs 56855 on October 5, 2023. With delivery dates of September 5, 2023, silver futures contracts currently have a value of Rs. 68075, which is Rs. 1.96% more than the contract’s value on December 5, 2023.

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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