Gold and silver prices rose this week: Gold rose by Rs 543 to reach Rs 71,958, silver was being sold at Rs 85,019 per kg

This week, there has been a rise in the prices of gold and silver. According to the website of India Bullion and Jewelers Association (IBJA), last Saturday, i.e. on August 24, gold was at Rs 71,424, which has now reached Rs 71,958 per 10 grams (August 31). That is, its price has increased by Rs 543 this week.

Talking about silver, it was at Rs 84,615 last Saturday, which has now reached Rs 85,019 per kg. This week its price has increased by Rs 404. This year silver reached its all-time high of Rs 94,280 per kg on 29 May. Gold made an all-time high of Rs 74,222 on 21 May.

Gold price in 4 metro cities and Bhopal

Gold has increased by more than 8 thousand rupees so far this year
According to IBJA, the price of gold has increased by Rs 8,606 so far this year. On January 1, gold was at Rs 63,352, which has now reached Rs 71,958 per 10 grams. At the same time, the price of one kg silver has increased from Rs 73,395 to Rs 85,019.

Gold can reach up to 78 thousand by the end of the year
According to Anuj Gupta, Commodity and Currency Head of HDFC Securities, gold and silver may see further increase in the coming days. This year, the price of gold may reach Rs 78 thousand per 10 grams. Silver may also reach Rs 1 lakh per kilogram.

Keep these 3 things in mind while buying gold

1. Buy only certified gold
Always buy certified gold bearing the hallmark of Bureau of Indian Standards (BIS). There is a 6-digit hallmark code on gold. This is called Hallmark Unique Identification Number or HUID. This number is alphanumeric i.e. something like this- AZ4524. Through hallmarking, it is possible to find out how many carats a 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 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.

3. Do not make cash payment, take the bill
While buying gold, it is better to make payment through UPI (like Bhim App) and digital banking instead of cash payment. If you want, you can also make payment through debit or credit card. After this, do not forget to take the bill. If you have ordered online, then definitely check the packaging.