Gold and silver prices fell today: Gold fell by ₹ 636 to ₹ 75,377, silver became cheaper by ₹ 1,902.

A decline was seen in the prices of gold and silver today i.e. on 20th December. According to India Bullion and Jewelers Association (IBJA), the price of 10 grams of 24 carat gold has fallen by Rs 636 to Rs 75,377. Earlier the price of gold was Rs 76,013 per ten grams.

The price of silver has also come down by Rs 1,902 today to Rs 85,133. Yesterday silver was Rs 87,035 per kg. At the same time, on October 23, silver had made an all-time high of Rs 99,151 and on October 30, gold had made an all-time high of Rs 79,681.

Pressure on gold due to cut in interest rates

According to Currency Head Anuj Gupta, the US Central Bank Federal Reserve has cut interest rates by 25 basis points (0.25%). Due to this cut, there is continuous pressure on gold and silver. Due to this, even today their prices are falling.

However, gold and silver may see a rise again in the coming days. In the next one year, gold can go up to Rs 82 thousand per 10 grams. At the same time, silver can also reach Rs 95 thousand per kg.

Gold price in 4 metros and Bhopal

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 i.e. HUID. This number is alphanumeric i.e. something like this – AZ4524. Through hallmarking it is possible to find out how many carats of gold is.

2. Cross check the price Cross-check the correct 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 jewelery is not made from it because it is very soft.

3. Do not pay cash, take 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 don’t forget to take the bill. If ordering online then definitely check the packaging.