Gold Rate Today: Modernisation is a form of progress that pervades all fields. Gold is one industry where several technology-based choices have recently emerged to meet our financial needs. The younger generation craves accessibility, and gold in digital form delivers it while retaining the traditional value of gold investment. As a result of increased awareness regarding products such as SGBs and Gold ETFs, digital gold’s importance as an investment product is growing. Gold is now priced at Rs 5,400 per gramme for 22 karat gold and Rs 5,891 per gramme for 24 karat gold in India.
Gold Rate Today: On MCX
Gold would increase in value if any other asset type, such as equities or real estate, declined. As a result, it is regarded as a safe haven asset. To reach Rs 59390, the price of the 10-gram gold futures contract for October 5, 2023 on the MCX up by 2.54 percent. The value of silver futures contracts with delivery dates of September 5, 2023 is currently Rs. 71320, which is 3.25% less than the contract’s value on December 5, 2023.
Price of gold in some major cities
| Name of cities | Prices of 22k gold in rupees |
| Mumbai | 54000 |
| Delhi | 54150 |
| Kolkata | 54000 |
| Bangalore | 54000 |
| Pune | 54000 |
| Vadodara | 54050 |
| Jaipur | 54150 |
| Lucknow | 54150 |
Electronic gold receipt is a fairly new concept
The electronic gold receipt is a relatively recent idea. It offers the distinct advantage of converting real gold to digital format and saving on safe deposit charges while maintaining the gold’s price appreciation. This helps investors to boost their returns by lowering their costs. It also increases the tradability of the products. Gold ETFs are easily exchanged on stock exchanges, giving investors a pleasant transactional experience.
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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