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This week, the price of gold was a big increase. According to the India Bullion and Jewelers Association (IBJA), 10 grams 24 carat gold prices rose by Rs 3,030 to Rs 1,02,388 after a week -long trading. It was at Rs 99,358 on the last day of last week (Friday, August 22).
At the same time, silver price has increased by Rs 3,666 to Rs 1,17,572 per kg in a week. On August 22, the price of one kg silver was Rs 1,13,906. Currently, both gold and silver prices are all time high.
Gold this year became ₹ 26,000 and silver ₹ 31,000 expensive
- So far this year, the price of gold has increased by Rs 26,226 (34.43%). On 31 December 2024, 10 grams 24 carat gold was worth Rs 76,162, which has now increased to Rs 1,02,388.
- The price of silver has also increased by Rs 31,555 (36.68%) during this period. On 31 December 2024, the price of one kg silver was Rs 86,017, which has now increased to Rs 1,17,572 per kg.
Gold and silver prices were also accelerated yesterday
The price of gold and silver was on alltime high on the second consecutive day on Friday, 29 August. The price of gold increased by Rs 882 yesterday. Silver became expensive by Rs 462.
Gold and silver price in 4 metros of the country
- Delhi: 24 carat gold price ₹ 1,03,460 and 22 carat gold priced ₹ 94,850
- Mumbai: 24 carat gold price ₹ 1,03,310 and 22 carat gold priced ₹ 94,700
- Kolkata: 24 carat gold priced ₹ 1,03,310 and 22 carat gold price ₹ 94,700
- Chennai: 24 carat gold price ₹ 1,03,310 and 22 carat gold priced ₹ 94,700
Silver price can go up to ₹ 1.46 lakh this year
According to market expert Kedia Commodity, one kg of silver can reach Rs 1.30 lakh by the end of 2025. Moneycontrol estimates that silver may increase by 34%, which can lead to the price ₹ 1,46,000 per kg.
This estimate is based on the normal level (60: 1) of the gold-silver ratio. At the same time, the report of Citigroup states that the price of silver can be equal to ₹ 1,20,000 to ₹ 1,30,000 per kg.
Gold can go up to ₹ 1 lakh 4 thousand this year
Ajay Kedia, director of Kedia Advisory, says that Jio remains political tension due to America’s tariff. Due to this, gold is getting support and its demand is also increasing.
In such a situation, gold can go up to 1 lakh 4 thousand rupees per 10 grams this year. At the same time, silver can go up to 1 lakh 30 thousand rupees this year.
Keep these 2 things in mind while buying gold
1. Buy certified gold only: Always buy a certified gold of the Bureau of Indian Standard (BIS) hallmark. Under the new rule, gold will not be sold from April 1 without six digit alphanumeric hallmarking. Just as there is a 12 -digit code on the Aadhaar card, in the same way there will be a 6 -digit hallmark code on gold. It is called Hallmark Unique Identification Number ie Huid.
This number can be alphanumeric means something like this- AZ4524. It has become possible to find out through hallmarking how many carats a gold is.
2. Cross check the price: Cross the right weight of gold and the day of purchasing the price of it with many sources (eg India Bullion and Jewelers Association’s website). The price of gold varies according to 24 carats, 22 carats and 18 carats.
24 carat gold is considered the pure gold, but its jewelery is not formed, because it is very soft. Usually 22 carat or less carat gold is used for jewelery.
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