Gold Rate Today: Prices of Precious Metals Cool Off! Should You Wait?

Gold Rate Today: Gold investments are not expected to produce very large short-term profits. Actually, the growth rate of gold is typically uniformly moderate. But it can also take some time to recover the dealer fee you usually pay when buying real gold. Purchasing shares in gold exchange-traded funds may allow you to invest in gold without having to pay that fee. All of it nevertheless emphasises that gold is a long-term investment. For many commodity investors, precious metals like gold and silver will remain a permanent fixture in their portfolios. Given the recent marginal price drop in both metals, as per MCX data, investors may find it an attractive time to invest in gold and silver, potentially capitalizing on the current market dip and bolstering their investment diversification.

Gold Rate Today: Price of gold in some major cities

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. However rising gold prices usually result in lower bond yields. With a slight decrease of 0.04 percent, gold futures with a October 5, 2024 maturity date are trading at Rs 70711 per 10 grams on the MCX. The price of silver futures, which mature on September 5, 2024, see a decrease of 0.71 percent, and are trading at Rs 81047 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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