Gold Rate Update: Investing in gold allows for more faster disposal than other physical assets such as real estate. With the exception of sovereign gold bonds, gold investments are not subject to a lock-in term. The quantity needed to redeem real gold varies depending on the metal’s purity, market value, and other characteristics. When we need money, we can borrow it secured by gold. In India, the price of a gram of 22-karat gold is currently Rs 5,650, while a gram of 24-karat gold is Rs 6,164.
Checkout the rates on MCX
On the MCX, gold futures with a December 5, 2023, maturity date were trading at Rs 60650 per 10 grammes following a 0.10 percent loss. On the other hand, maturing silver futures had a 0.50% decline and were trading at Rs 72775 per kilogramme on the MCX on December 5, 2023. Because of its historical low correlation with other financial assets, gold is often included in portfolios by investors as a hedge against potential economic downturns.
Price of gold in some major cities
| Name of cities | Prices of 22k gold in rupees |
| Mumbai | 56500 |
| Delhi | 56650 |
| Kerala | 56500 |
| Pune | 56500 |
| Lucknow | 56650 |
| Patna | 56650 |
| Nagpur | 56500 |
| Chandigarh | 56500 |
| Surat | 56650 |
| Bhubaneswar | 56650 |
Gold Rate Update: Where to invest when you are a beginner?
Investing in gold can be made easiest and safest via mutual funds and exchange-traded funds (ETFs). You can easily buy or sell these securities in your retirement account or brokerage account, as each share of these securities represents a fixed amount of gold. First-time investors can consider gold mutual funds and ETFs due to their affordable costs and minimal investment requirements.
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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