Gold Rate Today: Owing to its ability to appreciate in value in response to changes in exchange rates, gold has become a popular substitute. You might want to hold off on investing because the price of gold has recently somewhat increased. When other assets experience a decline in value, gold has consistently proven to be a reliable investment during erratic economic times. Under uncertain economic conditions, its value usually remains stable or even increases. Something that makes the Indian financial scene unique is the US dollar’s continuous depreciation against the Indian rupee.
Checkout how gold protects you against fluctuations in the stock market
Gold can increase portfolio safety in ways other than just protecting against inflation. Additionally, the commodity offers excellent protection against fluctuations in the stock market. Investors typically sell their riskiest holdings and use the proceeds to purchase safe-haven assets when they believe the stock market is about to enter a bear market. Among those assets is gold. As a result, there is typically a spike in demand for gold when market conditions are unsettling. The price of gold tends to rise when investors flood the market with the metal in an attempt to protect their investments, as the law of supply and demand suggests. Therefore, when the bears are in charge of the market, gold may see gains.
Gold Rate Today: Price of gold in some major cities
| Name of cities | Prices of 22k gold in rupees |
| Mumbai | 58000 |
| Delhi | 58100 |
| Kerala | 58000 |
| Pune | 58000 |
| Lucknow | 58100 |
| Patna | 58100 |
| Nagpur | 58000 |
| Chandigarh | 58000 |
| Surat | 58100 |
| Bhubaneswar | 58100 |
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 0.03 percent, gold futures with a February 5, 2024 maturity date were trading at Rs 62972 per 10 grams on the MCX. The price of silver futures, which mature on March 5, 2024, saw an increase of 0.08 percent, and were trading at Rs 75448 per kg on the MCX just before the Christmas.
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.)
Keep watching our YouTube Channel ‘DNP INDIA’. Also, please subscribe and follow us on FACEBOOK, INSTAGRAM, and TWITTER