Gold Rate Today: Gold investments can be disposed of much more quickly than other tangible assets like real estate. There is no lock-in period on gold investments, with the exception of sovereign gold bonds. The redemption amount for actual gold varies according to the purity, market worth, and other aspects of the gold. We are able to borrow money secured by gold when we need it. In India, the cost of 22-karat gold is currently Rs 5,655 per gram, while the cost of 24-karat gold is Rs 6,169 per gram.
Price of gold in some major cities
| Name of cities | Prices of 22k gold in rupees |
| Mumbai | 56550 |
| Delhi | 56700 |
| Kerala | 56550 |
| Pune | 56550 |
| Lucknow | 56700 |
| Patna | 56700 |
| Nagpur | 56550 |
| Chandigarh | 56550 |
| Surat | 56700 |
| Bhubaneswar | 56700 |
Checkout the rates on MCX
Gold futures with a December 5, 2023, maturity date were trading at Rs 60745 per 10 grammes on the MCX after a slight increase of 0.04 percent. Conversely, on December 5, 2023, maturing silver futures saw a 0.27% decrease and were selling at Rs 73161 per kilogramme on the MCX. Numerous investors incorporate gold into their portfolios as a safeguard against future economic downturns due to its historical low correlation with other investment assets. Bond yields typically decrease when gold prices rise. Although buying gold during a recession or at any other point in the economic cycle may have advantages, the effectiveness of this investment plan will determine how well it performs.
Gold Rate Today: Gold is observable
Due to the fact that gold is one of the few tangible assets, investors tend to view it as safe. Compared to other physical investments like real estate, buying gold is simpler. Additionally, gold is unaffected by hacking and other misuses due to its tangibility, whereas digital assets are vulnerable to these issues. It does, however, carry some risk. Thus, keep these in mind.
Gold Rate Today: Where to invest when you are a beginner?
Investing in gold can be made easiest and safest via mutual funds and exchange-traded funds (ETFs). You can easily buy or sell these securities in your retirement account or brokerage account, as each share of these securities represents a fixed amount of gold. First-time investors can consider gold mutual funds and ETFs due to their affordable costs and minimal investment requirements.
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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