Gold Rate Today: In volatile economic times, gold has always proven to be a reliable investment, frequently appreciating in value when other assets do not. In an unstable economy, its value typically remains the same or even increases. One feature of the Indian financial environment 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 is a popular stand-in. You might wish to put off investing because gold has recently seen a slight boost in price.
What is Gold ETFs?
Gold ETFs are mutual funds that track the local price of actual gold. The fund management company uses your investment to buy gold bullion. Since gold ETFs are public and traded on stock exchanges, investing in them is safe and subject to tight regulations. Gold ETF units can be bought and sold on the stock exchange on the same day or any other day, just like equities.The minimum investment is one unit of the gold ETF, which is equal to the price of one gramme of real gold. Because gold ETFs are listed, they may be traded easily and with great liquidity on the stock market.
Gold Rate Update: Price of gold in some major cities
Name of cities | Prices of 22k gold in rupees |
Mumbai | 56900 |
Delhi | 57050 |
Kerala | 56900 |
Pune | 56900 |
Lucknow | 57050 |
Patna | 57050 |
Nagpur | 56900 |
Chandigarh | 56900 |
Surat | 57050 |
Bhubaneswar | 57050 |
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 0.37 percent, gold futures with a February 5, 2024 maturity date were trading at Rs 61672 per 10 grammes on the MCX. The price of silver futures, which mature on March 5, 2024, saw an increase of 1.71 percent, and were trading at Rs 71350 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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