New Delhi19 minutes ago
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Gold and silver prices rose today (August 19). According to the India Bullion and Jewelers Association (IBJA), on Monday, 10 grams of 24 carat gold rose by Rs 504 to Rs 71,108. On Friday, its price was Rs 70,604 per ten grams.
At the same time, one kg silver has increased by Rs 1781 to Rs 83,291 per kg. Earlier on Friday, silver was at Rs 81,510 per kg. This year gold has reached an all-time high of Rs 73,302 per 10 grams in April. At the same time, silver reached its all-time high of Rs 94,280 per kg on 29 May.
Gold has increased by more than 7 thousand rupees so far this year
According to IBJA, the price of gold has increased by Rs 7,756 so far this year. On January 1, gold was at Rs 63,352, which has now reached Rs 71,108 per 10 grams. At the same time, the price of one kg silver has increased from Rs 73,395 to Rs 83,291.
Gold may cost Rs 1.68 lakh per 10 grams by 2030
According to Mahendra Lunia, chairman of Vighnaharta Gold, the price of gold can reach Rs 1.68 lakh per 10 grams by 2030. The reasons for the rise in gold prices include factors ranging from geopolitical tensions to global economic recession.
Keep these 2 things in mind while buying gold
1. Buy only certified gold
Always buy certified gold bearing the hallmark of Bureau of Indian Standards (BIS). Under the new rule, from April 1, gold will not be sold without six-digit alphanumeric hallmarking. Just like there is a 12-digit code on the Aadhaar card, similarly there will be a 6-digit hallmark code on gold. This is called Hallmark Unique Identification Number i.e. HUID.
This number can be alphanumeric i.e. something like this- AZ4524. Through hallmarking it has become possible to find out how many carats a particular gold has.
2. Cross check the price
Cross-check the exact weight of gold and its price on the day of purchase from multiple sources (such as the website of the India Bullion and Jewelers Association). The price of gold varies according to 24 carat, 22 carat and 18 carat.
24 carat gold is considered the purest gold, but jewellery is not made from it because it is very soft. Usually 22 carat or less carat gold is used for jewellery.
Check the price according to carat like this
Suppose the price of 24 carat gold is 60 thousand rupees per 10 grams. That means the price of one gram of gold is 6000 rupees. In such a situation, the price of 1 gram of 1 carat purity gold is 6000/24 i.e. 250 rupees.
Now suppose your jewellery is made of 18 carat pure gold, then 18×250 means its price is Rs 4,500 per gram. Now the correct price of gold can be calculated by multiplying the number of grams of your jewellery by Rs 4,500.
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