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.
Benefits of investing in Gold Schemes
It is among the best methods for purchasing gold. The market is rife with gold schemes, most of which are floated by jewellers. These programmes function similarly to a SIP in which you make a monthly deposit at a jeweller of a certain amount of money. The programme may last for two years, eleven months, etc. When the plan matures or expires, you can get the gold back for the money you invested. On the other hand, we advise being cautious when making this kind of investment. Before making an investment, be sure to research the jeweller and their policies. Furthermore, the risk might not be justified if the scheme’s returns are comparable to those of a traditional investment or an FD.
Gold Rate Update: Price of gold in some major cities
| Name of cities | Prices of 22k gold in rupees |
| Mumbai | 57700 |
| Delhi | 57850 |
| Kerala | 57700 |
| Pune | 57700 |
| Lucknow | 57850 |
| Patna | 57850 |
| Nagpur | 57700 |
| Chandigarh | 57700 |
| Surat | 57850 |
| Bhubaneswar | 57850 |
Gold Rate Update: Checkout the rates on MCX
Due to its historically low correlation with other financial assets, gold is a hedge against future economic downturns that is popular among investors. Bond yields typically decrease in response to rising gold prices. Gold futures with a February 5, 2024 maturity date were trading at Rs 62270 per 10 grammes on the MCX, up 0.15 percent. The MCX saw a 0.32 percent increase in the price of silver futures, which mature on March 5, 2024, and were trading at Rs 72275 per kg.
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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