Gold Rate Today: Prices of precious metals tumble; check current rates in your city here

Gold Rate Today: One of the most popular liquid assets is precious metal, which is useful during tumultuous times. The yellow metal protects against currency depreciation and inflation. In addition, the metal glows brighter when debt and stocks fall in the financial markets. India, the nation that loves gold the most, has a stronger affection for the metal and currently ranks second in terms of worldwide consumption. The current price of gold in India is Rs 5,450 per gram for 22k gold and Rs 5,945 per gram for 24k gold, commonly known as 999 gold.

Price of gold in some major cities

Gold Rate Today: On MCX

Gold would increase if any other asset type, such as equities or real estate, declined. For this reason, it is regarded as a safe haven asset. The MCX’s 10-gram gold futures contract for October 5, 2023, saw a 1.12 percent decrease in price to Rs 57775. The current value of silver futures contracts with delivery dates of September 5, 2023 is Rs. 70809, which is 1.35% less than the contract’s value on December 5, 2023.

How is Gold used in Electronics?

These days, a lot of gold is employed in the production of electronic items or materials. Gold is used in electronics because it has a few characteristics that cannot be found in other metals, such as the fact that it does not corrode or tarnish. Low voltages are typically employed in electronic devices, which increases the likelihood that they may tarnish and corrode. Use of gold will lessen the corrosion and tarnishing issues. The components’ durability is increased by gold. Components like connectors, switches, relays, connecting strips, etc. all use gold.

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.)

Also Read: Gold Rate Today: Price of yellow metal rises to the seventh heaven while silver halts. These are the prices from Delhi to Bangalore

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