Gold Rate Today: Gold has always shown to be a dependable investment during erratic economic times, often increasing in value when other assets do not. Its value usually stays the same or even rises in an unstable economy. The US dollar’s ongoing depreciation against the Indian rupee is one aspect of the Indian financial scene that sets it apart. Gold is a popular stand-in because it tends to appreciate in value in response to fluctuations in exchange rates. Given that the price of gold has recently somewhat increased, you might want to postpone investing.
What are Gold FOFs, what makes them more expensive?
In essence, funds that invest in a variety of mutual funds are called fund of funds. This investment tool costs more and carries a little bit more risk. Gold ETF investments are made by this fund. Despite the diversification it offers, they pass on the expense ratio of the individual funds in addition to their own fees, making it a somewhat pricey option.
These are gold-investing exchange-traded funds. These, along with all other ETFs, are traded on the stock market. Simply open a Demat account (most of which come with brokerage fees). By choosing this investment option, you can track the performance of gold in the market without actually purchasing or owning any physical gold.
Gold Rate Update: Price of gold in some major cities
| Name of cities | Prices of 22k gold in rupees |
| Mumbai | 58700 |
| Delhi | 57850 |
| Kerala | 58700 |
| Pune | 58700 |
| Lucknow | 57850 |
| Patna | 57850 |
| Nagpur | 58700 |
| Chandigarh | 58700 |
| Surat | 57850 |
| Bhubaneswar | 57850 |
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 0.80 percent, gold futures with a February 5, 2024 maturity date were trading at Rs 62280 per 10 grammes on the MCX. The price of silver futures, which mature on March 5, 2024, saw an increase of 1.42 percent, and were trading at Rs 72366 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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