Gold Rate Update: Numerous jewellers have introduced gold savings plans in recent years. Plans for gold or jewellery savings let you allocate a certain amount each month for as long as you’d want. After the time limit has elapsed, you can purchase gold from the same jeweller for the full amount of your investment plus a bonus. At the gold price in force at maturity, this conversion is completed. The jeweller usually offers a gift item or adds one month’s installment as a cash incentive at the conclusion of the period. In India, 22-karat gold costs Rs 5,685 per gram, whereas 24-karat gold costs Rs 6,202 per gram.
Price of gold in some major cities
| Name of cities | Prices of 22k gold in rupees |
| Mumbai | 56850 |
| Delhi | 57000 |
| Kerala | 56850 |
| Pune | 56850 |
| Lucknow | 57000 |
| Patna | 57000 |
| Nagpur | 56850 |
| Chandigarh | 56850 |
| Surat | 57000 |
| Bhubaneswar | 57000 |
Gold Rate Update: What are gold ETFs?
Gold ETFs are mutual funds that follow changes in the domestic price of physical gold. The fund management company purchases gold bullion with your money. Because gold ETFs are listed and traded on stock markets, investing in them is secure and governed by tight regulations. The same day, or any other day, you can buy and sell units of gold ETF on the stock exchange, just like equities.The minimum investment is one unit of the gold ETF, which is equal to the price of one gramme of genuine gold. Due to their listing, gold ETFs have excellent liquidity and are easy to trade on the stock market.
Gold Rate Update: 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 61072 per 10 grams following a 0.08 percent gain. On the other hand, maturing silver futures had a 0.13% increase and were trading at Rs 72920 per kilogramme 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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