Gold Rate Update: In one way or another, gold may be found in most Indian houses. Historically, Indians have bought gold as a rainy-day fund or to help them reach major financial goals. Thus, buying gold is seen as a type of financial assistance. Paper money or actual gold can now be bought. There are several routes leading to the golden metal within each. In India, the price of a gram of 22-karat gold is currently Rs 5,745, while a gram of 24-karat gold is Rs 6,267.
Price of gold in some major cities
| Name of cities | Prices of 22k gold in rupees |
| Mumbai | 57450 |
| Delhi | 57600 |
| Kerala | 57450 |
| Pune | 57600 |
| Lucknow | 57450 |
| Patna | 57450 |
| Nagpur | 57600 |
| Chandigarh | 57600 |
| Surat | 57450 |
| Bhubaneswar | 57450 |
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 62245 per 10 grammes on the MCX, up 0.10 percent from their previous price. The MCX experienced a 0.05 percent drop in the price of silver futures, which mature on March 5, 2024, and were trading at Rs 75244 a kg.
Gold Rate Update: What is Gold saving scheme?
In recent years, many jewellers have developed gold savings plans. Gold or jewellery savings programmes allow you to set aside a specified amount each month for the length of your choice. After the timer runs out, you can buy gold from the same jeweller for the amount you put plus a bonus. This conversion is done at the gold price in effect at maturity. At the end of the term, the jeweller usually gives a present item or adds a month’s installment as a monetary incentive.
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