Gold Rate Update: This wedding season, are you giving your relative something made of gold or silver as well? The bad news is that although gold prices have increased and also silver is trading at a premium. You should wait for sometime and then buy when the prices of these metals will decrease. When it comes to precious metals used in financial transactions, gold is the most used. Generally speaking, investors purchase gold to spread their risk, particularly when utilising futures and derivatives. Similar to other markets, the gold market is subject to speculation and volatility. Gold has shown to be a more effective safe haven for precious metal investments than other options in a number of different countries. In India, the cost of 22-karat gold is currently Rs 5,770 per gram, whereas 24-karat gold is priced at Rs 6,295 per gram.
Price of gold in some major cities
| Name of cities | Prices of 22k gold in rupees |
| Mumbai | 57700 |
| Delhi | 57850 |
| Kerala | 57700 |
| Pune | 57700 |
| Lucknow | 57850 |
| Patna | 57850 |
| Nagpur | 57700 |
| Chandigarh | 57700 |
| Surat | 57850 |
| Bhubaneswar | 57850 |
Gold futures can be speculative
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.
Gold Rate Today: On MCX
Gold is one of the few tangible assets, therefore investors generally think it’s safe. Purchasing gold is easier than investing in other tangible assets, such as real estate. Furthermore, because gold is tangible, it is not susceptible to hacking or other forms of misuse, unlike digital assets. It does come with some danger, though. Therefore, remember these. On the MCX, gold futures with a December 5, 2023, maturity date were trading at Rs 62805 per 10 grams following a 0.26 percent gain. On the other hand, maturing silver futures had a 0.46% increase and were trading at Rs 77869 per kilogram on the MCX on December 5, 2023.
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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