Gold Rate Today: Prices of yellow metal move up, silver tumbles; check current rates in your city here

Gold Rate Today: In India, the price of a gram of 22-karat gold is currently Rs 5,680, while a gram of 24-karat gold is Rs 6,196. It might be challenging for those accustomed to online stock and bond trading to invest in physical gold. You will very probably have to pay for storage and investment insurance when dealing with real gold, and you will almost certainly have to deal with traders who are not licenced brokers. Bullion, coins, and jewellery are the three most popular ways to invest in genuine gold.

Price of gold in some major cities

Gold Rate Today: On MCX

One of the numerous factors influencing the price of gold and silver in India is the rupee’s value in relation to the US dollar. The global demand for precious metals has a significant impact on fluctuations in their price. Gold futures on the MCX were trading at Rs 60914 per 10 grammes, up barely 0.14 percent, with a maturity date of December 5, 2023. Silver futures, which mature on December 5, 2023, had a price decline of 0.42% and were trading at Rs 71485 per kg on the MCX.

Gold Investment Provides High Cash Flow

If you have any gold coins or jewellery, you can sell them at any moment at a nearby jewellery store to liquidate your holdings. Shares and mutual funds can also be easily converted into cash. However, it may take a few days for these things to be reclaimed and the sale revenues to be refunded to your bank account. Gold, in contrast to these securities, is more liquid.

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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