Gold Rate Today: Buying gold was one of the first forms of portfolio diversification. Even today, gold is regarded as a wise investment for balancing portfolios and mitigating market swings. Whether you are a seasoned investor or have a well-diversified portfolio, gold should account for 5-10% of your whole portfolio. In India, gold is now priced at Rs 5,400 per gram for 22 karat gold and Rs 5,891 per gram for 24 carat gold.
Price of gold in some major cities
Name of cities | Prices of 22k gold in rupees |
Delhi | 55550 |
Kolkata | 55400 |
Bangalore | 55400 |
Pune | 55400 |
Vadodara | 55450 |
Jaipur | 55550 |
Lucknow | 55550 |
Gold Rate Today: On MCX
Gold is purchased for a variety of reasons. For some, gold is passed down through generations, and its preservation is critical. It can be beneficial during marriages or as a kind of future security. Others seek the counsel of skilled financial advisors who advise them to invest in gold. The price of the 10-gram gold futures contract for October 5, 2023 on the MCX increased by 2.58 percent to Rs 59415. Silver futures contracts with September 5, 2023 delivery dates are currently worth Rs. 71368, which is 3.32% less than the contract’s value on December 5, 2023.
Gold funds that invest in the metal
Investors can get gold exposure through mutual funds and exchange-traded funds. The value of funds with the most direct exposure follows the price of gold. The expense ratio is used to pass on the cost of sustaining physical supplies to investors. There are some drawbacks: Because some gold funds are classified as collectibles, they are not eligible for the lower long-term capital-gains rates enjoyed by equities. Furthermore, because they do not create revenue, the expense ratio can eat away at the principle year after year.
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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