Gold Rate Update: Most Indian homes have gold in some form or another. Indians have historically purchased gold to achieve big financial goals or as a rainy-day fund. Purchasing gold is thus viewed as a form of financial help. Gold can now be purchased physically or with paper money. Within each, there are various paths that lead to the golden metal. The current price of gold in India is Rs 5,885 per gram for 22 karat gold and Rs 6,420 per gram for 24 karat gold.
Gold Rate Update: On MCX
Gold futures with a maturity date of December 5, 2023, were trading at Rs 63607 per 10 grammes on the MCX, up 0.39 percent. In contrast, maturing silver futures fell 0.55% and were trading at Rs 77660 per kilogramme on the MCX on December 5, 2023. People believe gold is safe since it is one of the few tangible assets. Buying gold is less straightforward than investing in other physical assets such as real estate. Furthermore, because gold is tangible rather than digital, it is immune to theft and other forms of deception. However, there is a significant risk associated. So keep these in mind.
What is Gold saving scheme?
In recent years, many jewellers have developed gold savings plans. Gold or jewellery savings programmes allow you to set aside a specified amount each month for the length of your choice. After the timer runs out, you can buy gold from the same jeweller for the amount you put plus a bonus. This conversion is done at the gold price in effect at maturity. At the end of the term, the jeweller usually gives a present item or adds a month’s installment as a monetary incentive.
Price of gold in some major cities
| Name of cities | Prices of 22k gold in rupees |
| Mumbai | 58850 |
| Delhi | 59000 |
| Kerala | 58850 |
| Pune | 58850 |
| Lucknow | 59000 |
| Patna | 59000 |
| Nagpur | 58850 |
| Chandigarh | 58850 |
| Surat | 59000 |
| Bhubaneswar | 59000 |
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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