Gold Rate Today: Gold jewellery worn by women as a festive decoration is a thing of the past. Because of the asset’s long-term gains and the economy’s fluctuating growth rate, even institutional investors are making investments in it. It also acts as a diversifier, balancing off losses incurred during periods of volatility in the stock market. Precious metal is a well-known liquid asset that can be helpful during turbulent times. The yellow gold offers protection against inflation and currency depreciation. The current price of gold in India is Rs 6,376 per gram for 24 carat gold and Rs 5,845 per gram for 22 carat gold.
Gold Rate Today: On MCX
The price of the 10-gram gold futures contract on the MCX decreased by 0.00 percent on October 5, 2023, to Rs 63355. With delivery dates of September 5, 2023, the current value of silver futures contracts is Rs. 77965, down 0.06% from the contract’s value on December 5, 2023.
Price of gold in some major cities
| Name of cities | Prices of 22k gold in rupees |
| Mumbai | 58450 |
| Delhi | 58600 |
| Kerala | 58450 |
| Pune | 58450 |
| Lucknow | 58600 |
| Patna | 58600 |
| Nagpur | 58450 |
| Chandigarh | 58450 |
| Surat | 58600 |
| Bhubaneswar | 58600 |
Gold futures can be analytical
Investing in gold can be done through gold futures, but they are very speculative and can be dangerous for first-time buyers. With gold futures, a buyer and seller engage into a contract whereby the buyer commits to buying a predetermined quantity of gold at a predetermined price on a predetermined date, regardless of the state of the market. That implies that you could lose a lot of money (or your entire investment) if you hold the investment and the price drops right before the contract expires.
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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