Gold Rate Update: In volatile economic times, gold has consistently proven to be a reliable investment, frequently appreciating in value when other assets do not. In an unstable economy, its value typically remains the same or even increases. One feature of the Indian financial scene that makes it unique is the US dollar’s continuous depreciation against the Indian rupee. Because gold tends to increase in value in response to changes in exchange rates, it is a popular stand-in. You might want to put off investing because gold has recently seen a slight increase in price.
Checkout this best method of investment
Gold schemes are one of the best ways to buy gold. There are many gold schemes on the market, the majority of which are promoted by jewellers. These programmes work similarly to SIPs, where you deposit a set amount of money each month at a jeweller. The duration of the programme could be two years, eleven months, etc. You can receive your investment money back in exchange for the gold when the plan matures or expires. However, we suggest exercising caution when putting money into this kind of venture. Make sure to investigate the jeweller and their policies before making an investment. Moreover, if the scheme’s returns are similar to those of a traditional investment or an FD, the risk might not be warranted.
Gold Rate Update: Price of gold in some major cities
| Name of cities | Prices of 22k gold in rupees |
| Mumbai | 57600 |
| Delhi | 57750 |
| Kerala | 57600 |
| Pune | 57600 |
| Lucknow | 57750 |
| Patna | 57750 |
| Nagpur | 57600 |
| Chandigarh | 57600 |
| Surat | 57750 |
| Bhubaneswar | 57750 |
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 0.25 percent, gold futures with a February 5, 2024 maturity date were trading at Rs 6150 per 10 grammes on the MCX. The price of silver futures, which mature on March 5, 2024, saw an increase of 0.22 percent, and were trading at Rs 72125 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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