New Delhi4 minutes ago
- Copy link
Gold and silver prices have reached all-time high again today (8 October). According to the India Bullion and Jewelers Association (IBJA), the price of 10 grams 24 carat gold has increased by Rs 1,858 to Rs 1,21,799. Earlier on Tuesday it was at Rs 1,19,941.
At the same time, silver has reached Rs 2,342 to Rs 1,50,783 per kg. Yesterday it was at Rs 1,48,441.
Gold this year became ₹ 45,637 and silver ₹ 64,766 expensive
- So far this year, the price of gold has increased by about Rs 45,637. On 31 December 2024, 10 grams 24 carat gold was worth Rs 76,162, which has now been Rs 1,21,799.
- The price of silver has also increased by Rs 64,766 during this period. On 31 December 2024, the price of one kg silver was Rs 86,017, which has now increased to Rs 1,50,783 per kg.
Gold can go up to 1.55 lakh rupees
According to a recent report by Goldman Sachs, the bank has laid a target of $ 5000 an ounce for gold till next year. According to the current exchange rate, it will be about Rs 1,55,000 per 10 grams. Sandeep Raichura, director of brokerage firm PL Capital, said that gold can go up to Rs 1,44,000 per 10 grams.
4 major reasons, due to which there is a possibility of speed in gold …
1. Central bank shopping: Large banks around the world want to reduce dependence on dollars. Therefore, they are constantly increasing the gold part in their treasures.
Affect: When the big banks buy continuously, the demand for gold in the market remains and the price goes up.
2. ‘Trump Factor’ and Policy-Uncertainty: There is uncertainty about the policies of America. The interference on the Federal Reserve weakens the dollar-bond market.
Affect: Investors find safe investment and run towards gold. This causes gold prices to rise.
3. Crypto towards gold: Investors are investing money in gold due to fluctuations in crypto and fear of strict rules. Low returns from the stock market in India also made gold attractive during the recent few times.
Affect: The demand for gold rapidly rises prices.
4. Long-Term Asset: Gold is never completely useless. It is not destroyed, limited and saves its price at the time of inflation.
Affect: It is mostly beneficial to keep gold in a long time.
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.
Check the price according to carat
Suppose the price of 24 carat gold is 60 thousand rupees per 10 grams. That is, one gram of gold cost 6000 rupees. In such a situation, 1 gram of gold with 1 carat purity was priced at 6000/24 i.e. 250 rupees.
Now suppose your jewelery is made of 18 carat pure gold, while 18×250 i.e. its price was Rs 4,500 per gram. Now, by multiplying by Rs 4,500 in all the grams of your jewelery, the correct price of gold can be extracted.
Source link
[ad_3]
