Gold and Silver has always been regarded as the safest investment option and the pride of Indian homes. Everyone is drawn to the gleam of gold and silver, whether it’s during a wedding or a large celebration. The prices of gold and silver on the Indian bullion market have skyrocketed since the morning of August 29. The market is more crowded now that the price of gold has surpassed Rs 1 lakh.
Gold and Silver 24 carat gold crosses 1 lakh
The Indian Bullion and Jewelers Association (IBJA) recently reported that the price of 10 grams of 24 carat gold is currently ₹ 1,02,388. It is the same gold that is thought to be the purest. 24 carat gold used to cost up to ₹ 65,000, but these days, its price is shocking people by surpassing 1 lakh.
Price of 22 carat and 18 carat gold
This morning, the price of 10 grams of 22 carat gold, which is primarily purchased for jewelry production, was 93,787. The cost of 18 carat gold has also gone up to ₹76,791 at the same time. In addition, 10 grams of 14 karat gold is being sold for about ₹59,897. Their prices vary according to the level of purity.
Gold price in Delhi, Mumbai, Kolkata and Chennai
In Delhi, 22 carat gold is sold for 94,200 per 10 grams, while 24 carat gold is offered for 1,02,750 in the country’s main markets. Large cities like Chennai, Kolkata, and Mumbai saw prices of ₹94,050 per 10 grams for 22 carat gold and ₹1,02,600 for 24 carat gold. This indicates that the price of gold has risen to nearly the same level nationwide.
Increase in silver prices too
In addition to gold, silver’s price has increased significantly. This morning, the price of 999 pure silver was ₹ 1,17,572 per kilogram. The soaring price of silver has caught both domestic investors and the general public off guard. Many analysts predict that in the days ahead, both gold and silver prices could rise even further.
Important information for investors
Every morning and evening, Monday through Friday, the prices of gold and silver are updated. The Indian Bullion Jewelers Association’s official website, ibjarates.com, is where these rates are published. Note that GST and manufacturing charges are not yet included in these prices. You will need to pay this extra sum separately if you plan to purchase gold.
Disclaimer: This article is written for general information purposes only. Before investing in gold and silver, take your financial situation and expert advice.
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