Due to America-Israel and Iran war, there is a rise in gold and silver market. In the futures market (MCX), the price of gold has increased by about Rs 5 thousand (3%) and is trading at Rs 1.67 lakh per 10 grams. At the same time, the price of 1 kg silver has increased by Rs 8,500 (3%) and is trading at Rs 2.91 lakh. According to commodity expert Ajay Kedia, gold can go up to Rs 1.90 lakh. Silver can reach up to Rs 3.50 lakh. In the bullion market, the price of 24 carat 10 gram gold has reached Rs 1.70 lakh. In an uncertain environment like war, investors consider gold as safe and start investing money in it. Due to this its demand increases and they start becoming expensive. 3 main reasons for the increase in the prices of gold and silver: This year gold has become costlier by ₹ 34,000 and silver by ₹ 36,000. There has been a rise in the prices of gold and silver this year. At the end of last year, gold was at Rs 1.33 lakh per 10 grams, which has now reached Rs 1.67 lakh. That means its price has increased by Rs 34 thousand so far this year. Silver has also become costlier by Rs 61 thousand during this period. While buying gold from jewellers, keep these 2 things in mind: 1. Buy only certified gold: Always buy certified gold with hallmark of Bureau of Indian Standards (BIS). This number can be alphanumeric i.e. something like this – AZ4524. Hallmarking shows how many carats the gold is. 2. Cross check the price: Cross check the exact weight of the gold and its price on the day of purchase from multiple sources (like the website of India Bullion and Jewelers Association). The price of gold varies according to 24 carat, 22 carat and 18 carat. 4 ways to identify real silver
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Gold rose by ₹ 5,000 today due to America-Iran war: It reached ₹ 1.67 lakh per 10 grams, silver increased by ₹ 8500 and was trading at ₹ 2.91 lakh.
