Gold Rate Update: Many manufacturers will soon be adjusting prices for a variety of goods, some of which will see increases and some of which will see decreases, so everyone is looking forward to an exciting new year. those who are waiting for prices to decline in order to invest in a range of assets, including our precious metals like gold and silver. Investing in gold has never been simpler because it has always had profitable margins and a quick liquidity process. If you want to invest in gold, you might want to hold off because its price has recently gone up a little. In India, the current price of gold is Rs 6,191 per gram for 24 carat gold and Rs 5,675 per gram for 22 carat gold.
What are Gold exchange-traded funds?
Gold exchange-traded funds (Gold ETFs) are another option for owning paper gold at a lower cost. Such transactions (buying and selling) take place on a stock exchange (NSE or BSE), with gold serving as the underlying asset. Another advantage of a gold ETF is its pricing transparency. The price at which it is purchased is most likely the closest to the actual price of gold, and thus the physical gold price serves as the benchmark.
Gold Rate Update: How to invest in Gold ETFs?
A trading account with a stockbroker and a demat account are required to invest in a gold ETF. One can buy in a lump sum or at regular intervals via systematic investment plans (SIP). You can even purchase one gramme of gold. There are no entrance or exit fees, but there are three fees. One is the expense ratio (for managing the fund), which is typically around 1% when compared to other mutual funds. The second cost is the broker fee, which must be accounted for each time you buy or sell gold ETF units. The tracking error, which is technically not a charge but has an impact on returns, is the third. It results from the fund’s expenses and cash holdings, which do not reflect the actual gold price.
Gold Rate Update: Checkout the rates on MCX
Gold futures with a February 5, 2024 maturity date were trading at Rs 61267 per 10 grams on the MCX, up 0.25 percent. Silver futures, which expire on March 5, 2024, gained 0.35 percent and were trading at Rs 72079 per kg on the MCX.
Price of gold in some major cities
| Name of cities | Prices of 22k gold in rupees |
| Delhi | 56900 |
| Kerala | 56750 |
| Pune | 56750 |
| Lucknow | 56900 |
| Patna | 56900 |
| Nagpur | 56750 |
| Chandigarh | 56750 |
| Surat | 56900 |
| Bhubaneswar | 56900 |
| Mumbai | 56750 |
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.)
Keep watching our YouTube Channel ‘DNP INDIA’. Also, please subscribe and follow us on FACEBOOK, INSTAGRAM, and TWITTER