Gold Rate Today: The prices of our precious metals, such as gold and silver, have somewhat increased, so those who are holding out on investing in them until prices drop should hold off for a while. Because gold has always had strong margins and a speedy liquidity process, investing in it has never been easier. Gold has recently increased in price, so if you want to buy in it, you might want to wait. In India, the cost of 22-karat gold is currently Rs 5,810 per gram, while the cost of 24-karat gold is Rs 6,338 per gram.
What are Gold exchange-traded funds?
Gold exchange-traded funds (Gold ETFs) are another option for owning paper gold at a lower cost. Such transactions (buying and selling) take place on a stock exchange (NSE or BSE), with gold serving as the underlying asset. Another advantage of a gold ETF is its pricing transparency. The price at which it is purchased is most likely the closest to the actual price of gold, and thus the physical gold price serves as the benchmark.
Gold Rate Today: How to invest in Gold ETFs?
A trading account with a stockbroker and a demat account are required to invest in a gold ETF. One can buy in a lump sum or at regular intervals via systematic investment plans (SIP). You can even purchase one gramme of gold. There are no entrance or exit fees, but there are three fees. One is the expense ratio (for managing the fund), which is typically around 1% when compared to other mutual funds. The second cost is the broker fee, which must be accounted for each time you buy or sell gold ETF units. The tracking error, which is technically not a charge but has an impact on returns, is the third. It results from the fund’s expenses and cash holdings, which do not reflect the actual gold price.
Gold Rate Today: Checkout the rates on MCX
Gold futures with a February 5, 2024 maturity date were trading at Rs 62598 per 10 grams on the MCX, up 0.06 percent. Silver futures, which expire on March 5, 2024, gained 0.12 percent and were trading at Rs 71294 per kg on the MCX.
Price of gold in some major cities
| Name of cities | Prices of 22k gold in rupees |
| Delhi | 58250 |
| Kerala | 58100 |
| Pune | 58100 |
| Lucknow | 58250 |
| Patna | 58250 |
| Nagpur | 58100 |
| Chandigarh | 58100 |
| Surat | 58250 |
| Bhubaneswar | 58250 |
| Mumbai | 58100 |
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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