Gold Rate Update: Should you wait? Prices increase further; checkout current rates in your city here

Gold Rate Update: Gold is among the most well-known precious metals in existence. Gold is a material that is universal and has been used historically for many different things, such as currency, an essential part of electronics, and handcrafted jewellery. Even in the modern era, investors are still drawn to gold as a special asset that offers an alternative to the established stock and bond markets. In India, the price of a gram of 22-karat gold is currently Rs 5,720, and a gram of 24-karat gold is Rs 6,240.

Gold Rate Update: On MCX

Investors can buy individual stocks in gold mining firms or buy shares as part of a fund. Investors purchasing gold in different forms need to pay a premium above the current gold price in addition to taking transportation, storage, and insurance into account. On October 5, 2023, the 10-gram gold futures contract on the MCX increased by 0.07 percent to Rs 61199. The current price of silver futures contracts with delivery dates on September 5, 2023 is Rs. 72359, which is Rs. 0.90% higher than the contract’s value on December 5, 2023.

Price of gold in some major cities

Investing in gold ETFs

Investing in gold is possible through an Exchange Traded Fund (ETF) without requiring you to purchase actual gold assets. It is a fund that is invested in various gold-backed securities. While some gold ETFs only follow or replicate the changes in the price of actual gold, others could also contain derivatives that are backed by gold or stocks of gold miners. The ETF’s performance is contingent upon the underlying asset, which also determines the fund’s value.

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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