Gold Rate Today: Even with the large range of precious metals accessible, gold is still a wise investment. Gold is one of the most popular investment options in India because of its high liquidity and ability to outperform inflation. Purchasing gold can be done through exchange-traded funds, sovereign gold bond schemes, jewellery, coins, bars, gold funds, and other products. You can, however, temporarily cease making gold investments as the price of yellow metal has somewhat increased.
Checkout the factors affecting gold prices in India
Especially in India, gold is one of the most widely used investment instruments globally. The price of gold varies, just like the price of other financial assets. Numerous other factors also play a part in determining the market price of gold, even though one of the main drivers is the demand for the metal. Like any other commodity, the economics of supply and demand has a significant influence on gold prices. Price increases are typically the outcome of increased demand coupled with limited or low supply. In a similar vein, low or stagnating demand combined with an excess of gold supply can drive down prices. In India, the wedding and celebration seasons typically see an increase in the demand for gold.
Other factors
The value of the currency decreases during inflation. One might prefer to hang onto cash in the form of gold in such a situation. As a result, there is a surge in the price of gold, which can be thought of as a type of inflation hedge. Interest rates and gold typically have an inverse relationship. People often sell off their gold in order to receive high interest rates when interest rates rise. In a similar vein, people tend to purchase more gold when interest rates drop, which raises demand.
Gold Rate Update: Checkout the rates on MCX
Gold futures with a February 5, 2024 maturity date were trading at Rs 62579 per 10 grams on the MCX, up 0.04 percent. Silver futures, which expire on March 5, 2024, loss 0.01 percent and were trading at Rs 72580 per kg on the MCX.
Price of gold in some major cities
| Name of cities | Prices of 22k gold in rupees |
| Delhi | 58150 |
| Kerala | 58000 |
| Pune | 58000 |
| Lucknow | 58150 |
| Patna | 58150 |
| Nagpur | 58000 |
| Chandigarh | 58000 |
| Surat | 58150 |
| Bhubaneswar | 58150 |
| Mumbai | 58000 |
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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