Gold Rate Update: Every year, a lot of people decide to invest in gold. It is one of the oldest forms of investment in India. The advantages of gold investment are numerous. Among other assets, gold is one of the most well-known investments that guarantee protection. Because of the rising demand for gold year after year, this is also one of the key causes of the annual increase in gold prices. People can invest more because gold prices are stable around the world. The current price of gold in India is Rs 5,475 per gram for 22k gold and Rs 5,973 per gram for 24k gold, commonly known as 999 gold.
Price of gold in some major cities
| Name of cities | Prices of 22k gold in rupees |
| Mumbai | 54750 |
| Delhi | 54900 |
| Kolkata | 54750 |
| Bangalore | 54750 |
| Pune | 54750 |
| Vadodara | 54800 |
| Jaipur | 54900 |
| Lucknow | 54900 |
Gold Rate Update: On MCX
The price of the 10-gram gold futures contract on the MCX for October 5, 2023 decreased by 0.09 percent to Rs 58650. Silver futures contracts with September 5, 2023 delivery dates currently have a value of Rs. 71999, which is 0.21% less than the contract’s value on December 5, 2023. Due to the fact that gold’s price rises in response to situations that cause the value of paper investments like stocks and bonds to decrease, it should play a significant role in a diversified investment portfolio. Gold has always maintained its value over the long run, despite the fact that its price can fluctuate in the short term.
Gold Investment Provides High Cash Flow
If you have any gold coins or jewellery, you can sell them at any moment at a nearby jewellery store to liquidate your holdings. Shares and mutual funds can also be easily converted into cash. However, it may take a few days for these things to be reclaimed and the sale revenues to be refunded to your bank account. Gold, in contrast to these securities, is more liquid.
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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