New Delhi16 minutes ago
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Gold and silver prices increased this week. According to the website of India Bullion and Jewelers Association (IBJA), gold was at Rs 1,09,775 on September 20, which has now reached Rs 1,13,262 per 10 grams (27 September). That is, its price has increased by Rs 3,487 this week.
At the same time, when it comes to silver, it was at Rs 1,28,000 last Saturday, which has now reached Rs 1,38,100 per kg. It is also its all time high. In this way, its price has increased by Rs 10,100 this week.
5 reasons for the rise in gold prices
- Global uncertainty: Investors are buying gold as safe for Trump’s tariff plan and business war.
- Purchase of central banks: Countries like China and Russia are buying large amounts of gold, which has increased demand.
- War and Tension: People are increasing investment in gold due to instability due to Russia-Ukraine not ending the war.
- Inflation and low interest rates: Gold has become attractive due to fear of inflation and low interest rates of Federal Reserve.
- Rupee fall against dollar: Gold is also becoming expensive due to the fall in the rupee against the dollar.
Gold can go up to 1.55 lakhs by next year According to the Goldman Sachs report, the bank has set a large target of $ 5000 an ounce for gold by next year. According to the current exchange rate, it will be around Rs 1,55,000 per 10 grams in Indian currency. This is much higher than the current market price of gold.
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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