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.
Checkout the Gold Bonds investment method
In India, stock exchanges, banks, post offices, and internet portals are all places to purchase gold bonds. These bonds’ price is based on the price of gold as of right now. The cost of buying gold bonds is the same as that of buying actual gold. Through the website of the Reserve Bank of India, investors can also purchase gold bonds online. Because investors can pay with debit cards or net banking, this method is very convenient. It is important for investors to comprehend the steps involved in buying Gold Bonds. It should be noted that sovereign gold bonds can be used as collateral when obtaining loans from banks and other financial organisations. Like any other regular gold loan, the loan-to-value ratio will adhere to the normative standards established by the Reserve Bank of India.
Gold Rate Update: Price of gold in some major cities
| Name of cities | Prices of 22k gold in rupees |
| Mumbai | 58550 |
| Delhi | 58700 |
| Kerala | 58550 |
| Pune | 58550 |
| Lucknow | 58700 |
| Patna | 58700 |
| Nagpur | 58550 |
| Chandigarh | 58550 |
| Surat | 58700 |
| Bhubaneswar | 58700 |
Gold Rate Today: 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 0.18 percent, gold futures with a February 5, 2024 maturity date were trading at Rs 63319 per 10 grammes on the MCX. The price of silver futures, which mature on March 5, 2024, saw an decrease of 0.12 percent, and were trading at Rs 74343 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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