Gold Rate Update: With so many platforms offering huge discounts and other benefits, everyone is buying gifts and other goods in this new year. Moreover, given the slight decrease in the value of gold and silver, now might be a great time to purchase ornaments crafted from these precious metals. Gold has been the most extensively used form of money in the world from ancient times until the present. Gold is mostly purchased by investors as a hedge against inflation and political instability due to its low correlation to other asset classes.
Gold Rate Update: Which gold investment is best for your portfolio?
Your resources and investing objectives will determine which gold investment is best for your portfolio. Larger investors seeking direct exposure might choose to purchase gold bullion, but doing so comes with a premium and storage expenses. Low-cost exposure can be obtained with small minimum investments through gold-tracking mutual funds and exchange-traded funds (ETFs). Before purchasing these shares, you should conduct research, though, as different funds have different expense ratios and investment strategies. Although these equities don’t always closely follow the long-term performance of gold, investing in gold mining companies can offer an additional way to gain exposure to the metal. And last, although it is less likely to yield investment gains, purchasing jewellery can be a fulfilling way to own gold.
Gold Rate Update: Checkout the rates on MCX
Gold futures with a February 5, 2024 maturity date were trading at Rs 62166 per 10 grams on the MCX, down 0.63 percent. Silver futures, which expire on March 5, 2024, loss 0.76 percent and were trading at Rs 72037 per kg on the MCX.
Price of gold in some major cities
| Name of cities | Prices of 22k gold in rupees |
| Delhi | 57950 |
| Kerala | 57800 |
| Pune | 57800 |
| Lucknow | 57950 |
| Patna | 57950 |
| Nagpur | 57800 |
| Chandigarh | 57800 |
| Surat | 57950 |
| Bhubaneswar | 57950 |
| Mumbai | 57800 |
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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