Gold Rate Update: Gold has always shown to be a dependable investment during erratic economic times, often increasing in value when other assets do not. Its value usually stays the same or even rises in an unstable economy. The US dollar’s ongoing depreciation against the Indian rupee is one aspect of the Indian financial scene that sets it apart. Gold is a popular stand-in because it tends to appreciate in value in response to fluctuations in exchange rates. Given that the price of gold has recently somewhat increased, you might want to postpone investing.
Why Gold is known as a DividendPaying Asset?
Growth investors tend to find gold stocks more attractive than income investors. Although the price of gold typically moves up and down with gold stocks, some profitable mining companies remain in business even during periods of lower gold prices. Price increases for gold are frequently reflected in gold stocks. The best gold stocks can see substantial gains with only a slight increase in price, and owners of gold stocks usually see a far higher return on investment (ROI) than owners of physical gold. Selecting gold stocks with a track record of impressive dividend performance can be advantageous for investors who prioritise growth over stable income. When the industry is expanding, dividend-paying stocks typically exhibit larger gains, and during a downturn, they perform better than non-dividend-paying stocks—on average, nearly twice as well.
Gold Rate Update: Price of gold in some major cities
| Name of cities | Prices of 22k gold in rupees |
| Mumbai | 58500 |
| Delhi | 58650 |
| Kerala | 58500 |
| Pune | 58500 |
| Lucknow | 58650 |
| Patna | 58650 |
| Nagpur | 58500 |
| Chandigarh | 58500 |
| Surat | 58650 |
| Bhubaneswar | 58650 |
Gold Rate Update: Checkout the rates on MCX
The historically low correlation of gold with other financial assets makes it a popular choice among investors as a hedge against potential economic downturns. Rising gold prices usually result in lower bond yields. With a slight increase of 0.53 percent, gold futures with a February 5, 2024 maturity date were trading at Rs 63359 per 10 grams on the MCX. The price of silver futures, which mature on March 5, 2024, saw an increase of 0.16 percent, and were trading at Rs 75135 per kg on the MCX.
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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