Gold Rate Today: In unpredictable economic times, gold has consistently proven to be a reliable investment, frequently appreciating in value when other assets do not. In an unstable economy, its value usually remains the same or even increases. One feature of the Indian financial scene that makes it unique is the US dollar’s continuous depreciation against the Indian rupee. Because gold tends to increase in value in response to changes in exchange rates, it has become more and more popular as a stand-in. You might want to put off investing because gold has recently seen a slight increase in price.
Why is gold a good investment for diversification?
Gold is frequently regarded as a good diversification investment because it might have a lower correlation with other assets like bonds or stocks. This could help to lower overall portfolio risk because the price of gold might be less impacted by changes in other asset classes. Gold has also traditionally been thought of as a hedge against inflation because it has the ability to hold onto or grow in value over time, despite price increases. Nonetheless, it’s critical to remember that buying gold carries some risk and doesn’t always yield a profit. Several factors can influence the price of gold, and investing can result in losses.
Gold Rate Update: Price of gold in some major cities
| Name of cities | Prices of 22k gold in rupees |
| Mumbai | 58500 |
| Delhi | 58650 |
| Kerala | 58500 |
| Pune | 58500 |
| Lucknow | 58650 |
| Patna | 58650 |
| Nagpur | 58500 |
| Chandigarh | 58500 |
| Surat | 58650 |
| Bhubaneswar | 58650 |
Gold Rate Update: 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 0.86 percent, gold futures with a February 5, 2024 maturity date were trading at Rs 63568 per 10 grammes on the MCX. The price of silver futures, which mature on March 5, 2024, saw an increase of 0.69 percent, and were trading at Rs 75540 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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