Gold Rate Update: In unstable economic times, gold has historically proven to be resilient, frequently increasing in value when other assets decrease. In an uncertain economy, its value usually remains constant or even increases. One feature that distinguishes the Indian financial landscape is the US dollar’s persistent depreciation against the Indian rupee. In light of this, gold has become a popular substitute because of its tendency to increase in value in response to changes in exchange rates. You might want to put off investing because gold has recently seen a slight increase in price.
How long should you hold a gold investment?
Excellent short-term returns are not likely to be generated by gold investments. Actually, the growth rate of gold is typically uniformly slow. It can also take some time to recover from the dealer fee you usually pay when investing in physical gold. Investing in shares of gold exchange-traded funds (ETFs) could provide you exposure to gold without charging you that fee. Still, all of that emphasises the fact that gold is an investment for the long term. It’s actually quite likely that the majority of commodity investors will keep some precious metal in their portfolio for the duration of their lives.
Gold Rate Today: Price of gold in some major cities
| Name of cities | Prices of 22k gold in rupees |
| Mumbai | 57750 |
| Delhi | 57900 |
| Kerala | 57750 |
| Pune | 57750 |
| Lucknow | 57900 |
| Patna | 57900 |
| Nagpur | 57750 |
| Chandigarh | 57750 |
| Surat | 57900 |
| Bhubaneswar | 57900 |
Gold Rate Update: Checkout the rates on MCX
The historically low correlation of gold with other financial assets makes it a popular choice among investors as a hedge against potential economic downturns. Rising gold prices usually result in lower bond yields. With a slight increase of 0.08 percent, gold futures with a February 5, 2024 maturity date were trading at Rs 62465 per 10 grammes on the MCX. The price of silver futures, which mature on March 5, 2024, saw an decrease of 0.03 percent, and were trading at Rs 75460 per kg on the MCX.
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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