Gold Rate Update: With so many platforms offering huge discounts and other benefits, everyone is looking forward to the new year and buying gifts and other items. Additionally, given the slight decline in the price of both gold and silver, now may be a good time to purchase ornaments made of these precious metals. The preferred form of money throughout the world has been gold, from prehistoric times to the present. Gold is mostly purchased by investors as a hedge against inflation and political instability due to its low correlations with other asset classes.
Investing in Gold ETFs
Mutual funds called Gold ETFs follow the local price of physical gold. The fund management business purchases gold bullion with your investment. Investing in gold ETFs is secure and strictly regulated since they are listed and traded on stock exchanges. Similar to stocks, you can purchase and sell units of gold ETF on the stock exchange on the same day or any other day.One unit of the gold ETF, which is equivalent to the cost of one gramme of real gold, is the minimum investment. Gold ETFs are highly liquid and simple to trade on the stock market because they are listed.
Investing in Digital Gold
In India, Augmont, SafeGold, and MMTC-PAMP all provide digital gold. Additionally, platforms like financial institutions, broking firms, and mobile e-wallets offer it for purchase. The return on investment for digital gold is determined by the market price of physical gold, and it is 100% pure, certified, and insured. Digital gold can be purchased for as little as one rupee, sold back whenever you’d like, or even delivered physically.
Gold Rate Today: Checkout the rates on MCX
Mutual funds and exchange-traded funds (ETFs) are generally the simplest and safest ways to invest in gold. Each share of these securities represents a fixed amount of gold, and you can easily purchase or sell them in your brokerage or retirement account. Because of their low cost and low minimum investment requirements, gold mutual funds and ETFs are an excellent choice for new investors. Gold futures with a February 5, 2024 maturity date were trading at Rs 63359 per 10 grams on the MCX, down 0.05 percent. Silver futures, which expire on March 5, 2024, loss 0.71 percent and were trading at Rs 74426 per kg on the MCX.
Price of gold in some major cities
| Name of cities | Prices of 22k gold in rupees |
| Delhi | 58700 |
| Kerala | 58550 |
| Pune | 58550 |
| Lucknow | 58700 |
| Patna | 58700 |
| Nagpur | 58550 |
| Chandigarh | 58550 |
| Surat | 58700 |
| Bhubaneswar | 58700 |
| Mumbai | 58550 |
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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