Gold Rate Update: The current price of gold in India is Rs 5,505 per gram for 22k gold and Rs 6,005 per gram for 24k gold, commonly known as 999 gold. In a place like India where it has been used for a very long time as both an ornament and an investment, gold never truly goes out of vogue. The sole way to invest in gold in India is not through buying gold coins, bullion, or jewellery. There are alternative gold savings plans accessible. The optimal method for investing in gold will depend on a variety of criteria, including personal preferences, the quantity invested, and the need for liquidity.
Price of gold in some major cities
| Name of cities | Prices of 22k gold in rupees |
| Mumbai | 55050 |
| Delhi | 55200 |
| Kerala | 55050 |
| Pune | 55050 |
| Lucknow | 55200 |
| Patna | 55100 |
| Nagpur | 55050 |
| Chandigarh | 55050 |
| Surat | 55100 |
| Bhubaneswar | 55050 |
Prices of gold On MCX
Gold has consistently been proved to be the best inflation hedge. More than ever, investors view gold as a critical investment. On the MCX, the cost of the 10-gram gold futures contract with an expiration date of October 5, 2023 decreased by 0.75 percent to Rs. 58960. The price of silver futures with a delivery date of September 5, 2023 has increased by 1.24 percent to Rs. 72320.
Gold Rate Update: What are gold ETFs?
Gold ETFs are mutual funds that follow changes in the domestic price of physical gold. The fund management company purchases gold bullion with your money. Because gold ETFs are listed and traded on stock markets, investing in them is secure and governed by tight regulations. The same day, or any other day, you can buy and sell units of gold ETF on the stock exchange, just like equities.The minimum investment is one unit of the gold ETF, which is equal to the price of one gramme of genuine gold. Due to their listing, gold ETFs have excellent liquidity and are easy to trade on the stock market.
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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