Gold Rate Today: Historically, gold has shown itself to be a solid asset during uncertain economic times, often rising in value when other assets fall. It typically maintains or even rises in value in an uncertain economy. Persistent depreciation of the US dollar against the Indian rupee is one characteristic that sets apart the Indian financial environment. Because of its propensity to appreciate in value in reaction to fluctuations in exchange rates, gold has emerged as a widely used alternative in this context. Gold has just seen a little price hike, so you might want to postpone investing.
Checkout the Gold Bonds investment method
In India, stock exchanges, banks, post offices, and internet portals are all places to purchase gold bonds. These bonds’ price is based on the price of gold as of right now. The cost of buying gold bonds is the same as that of buying actual gold. Through the website of the Reserve Bank of India, investors can also purchase gold bonds online. Because investors can pay with debit cards or net banking, this method is very convenient. It is important for investors to comprehend the steps involved in buying Gold Bonds. It should be noted that sovereign gold bonds can be used as collateral when obtaining loans from banks and other financial organisations. Like any other regular gold loan, the loan-to-value ratio will adhere to the normative standards established by the Reserve Bank of India.
Gold Rate Today: Price of gold in some major cities
| Name of cities | Prices of 22k gold in rupees |
| Mumbai | 58000 |
| Delhi | 58150 |
| Kerala | 58000 |
| Pune | 58000 |
| Lucknow | 58150 |
| Patna | 58150 |
| Nagpur | 58000 |
| Chandigarh | 58000 |
| Surat | 58150 |
| Bhubaneswar | 58150 |
Gold Rate Today: 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 0.23 percent, gold futures with a February 5, 2024 maturity date were trading at Rs 62512 per 10 grammes on the MCX. The price of silver futures, which mature on March 5, 2024, saw an decrease of 0.07 percent, and were trading at Rs 72324 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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