New Delhi1 hour ago
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Gold and silver prices have reached all time high today i.e. on 16 September. According to the India Bullion and Jewelers Association (IBJA), 10 grams 24 carat gold has risen by Rs 1,029 to Rs 1,10,540. Earlier yesterday it was at Rs 1,09,511. At the same time, silver has also increased by Rs 1,198 to Rs 1,28,989 per kg. Earlier, silver was at Rs 1,27,791.
Gold this year became ₹ 34,378 and silver ₹ 42,972 expensive
- So far this year, the price of gold has increased by Rs 34,378. On 31 December 2024, 10 grams 24 carat gold was worth Rs 76,162, which has now increased to Rs 1,10,540.
- The price of silver has also increased by Rs 42,972 during this period. On 31 December 2024, the price of one kg silver was Rs 86,017, which has now increased to Rs 1,28,989 per kg.
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.
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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