Gold Rate Update: In a place like India, where it has long been used as an investment as well as ornament, gold never truly becomes old-fashioned. While buying gold coins, bullion, and jewellery is not the only way to invest in gold in India, there are a number of gold savings plans as well. The ideal way to invest in gold will rely on personal tastes as well as considerations like the amount invested and the need for liquidity. Gold ETFs and gold mutual funds are better suited for investors who are accustomed to stock and mutual fund investments, whereas digital gold is a virtual investment. On the other hand, government-backed gold investments are available in the form of sovereign gold bonds. The current price of gold in India is 5,520 per gram for 22k gold and 6,022 per gram for 24k gold, commonly known as 999 gold.
Price of gold in some major cities
| Name of cities | Prices of 22k gold in rupees |
| Mumbai | 55200 |
| Delhi | 55350 |
| Kerala | 55200 |
| Pune | 55200 |
| Lucknow | 55350 |
| Patna | 55250 |
| Nagpur | 55200 |
| Chandigarh | 55200 |
| Surat | 55250 |
| Bhubaneswar | 55200 |
Gold Rate Update: On MCX
Gold has consistently been demonstrated to be the best inflation hedge. Now more than ever, investors view gold as a significant investment. The cost of the October 5, 2023 expiring 10-gram gold futures contract increased 0.41 percent to Rs. 59232 on the MCX. Priced at Rs. 72585 for delivery on September 5, 2023, silver futures with a December 5, 2023, expiration date are up 0.60% from their previous price.
What are gold ETFs?
Mutual funds that track the domestic price of physical gold are known as gold ETFs. Your investment is used by the fund management business to purchase gold bullion. Investing in gold ETFs is secure and subject to strict regulation because they are listed and traded on stock markets. Similar to stocks, you can purchase and sell units of gold ETF on the stock exchange on the same day or any other day.One unit of the gold ETF, which equals the cost of one gramme of actual gold, is the required minimum investment. Gold ETFs have great liquidity and are simple to trade on the stock market because they are listed.
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