Gold Rate Update: Exchange-traded funds (ETFs) and mutual funds are the most secure and simple ways to invest in gold. Because each share of these securities represents a fixed amount of gold, purchasing or selling them in your retirement or brokerage account is simple. Gold mutual funds and exchange-traded funds (ETFs) are a fantastic option for new investors due to their low costs and simple investment requirements. Gold is now priced at Rs 5,750 per gram for 22 karat gold and Rs 6,273 per gram for 24 karat gold in India.
Checkout the rates on MCX
Gold futures with a December 5, 2023, maturity date were trading at Rs 62708 per 10 grammes on the MCX after decreasing by 0.16 percent. In contrast, maturing silver futures saw a 0.11% decrease and were trading on the MCX on December 5, 2023, at Rs 77191 a kilogramme. Investors frequently include gold as a hedge against future economic downturns in their portfolios due to its historically low correlation with other financial assets. Bond yields typically decrease when gold prices rise. The success of this investment strategy will depend on how well-thought-out it is, even if buying gold during a recession or at any other point in the economic cycle can have advantages.
Price of gold in some major cities
| Name of cities | Prices of 22k gold in rupees |
| Mumbai | 57500 |
| Delhi | 57650 |
| Kerala | 57500 |
| Pune | 57650 |
| Lucknow | 56700 |
| Patna | 56700 |
| Nagpur | 57650 |
| Chandigarh | 57650 |
| Surat | 56700 |
| Bhubaneswar | 56700 |
Gold Rate Update: Gold is tangible asset
Due to the fact that gold is one of the few tangible assets, investors tend to view it as safe. Compared to other physical investments like real estate, buying gold is simpler. Additionally, gold is unaffected by hacking and other misuses due to its tangibility, whereas digital assets are vulnerable to these issues. It does, however, carry some risk. Thus, keep these in mind.
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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