Silver fell by Rs 1,242 in a single day: touched ₹ 84,720 per kg, gold prices by Rs. A decrease of 68

Today (August 28) the price of gold and silver has decreased. According to the India Bullion and Jewelers Association (IBJA), the price of one kg of silver fell by Rs 1,242 to Rs 84,720 per kg on Wednesday. Earlier on Tuesday, the price of silver was Rs 85,962 per kg. Also, 10 grams of 24 carat gold has fallen by Rs 68 to Rs 71,694. On Monday, its price was Rs 71,762 per ten grams. Gold touched an all-time high of Rs 73,302 per 10 grams in April this year. Also, on May 29, silver per kg was Rs. reached an all-time high of 94,280. Gold has increased by over Rs 8 thousand so far this year According to IBJA, the price of gold has increased by Rs 8,342 so far this year. The price of silver has also increased by Rs 12,567. On January 1, gold was Rs 63,352 per 10 grams, which has now touched Rs 71,694 per 10 grams. Also, the price of one kg of silver increased from Rs 73,395 per kg to Rs 84,720 per kg. By 2030, the price of gold may reach Rs 1.68 lakh per 10 grams According to Vighnaharta Gold Chairman Mahendra Lunia, the price of gold may reach Rs 1.68 lakh per 10 grams by 2030. Factors ranging from geopolitical tensions to the global economic slowdown are among the reasons for the rise in gold prices. Keep these 3 things in mind while buying gold 1. Buy only certified gold Always buy certified gold bearing the hallmark of the Bureau of Indian Standards (BIS). Gold has a 6 digit hallmark code. It is called Hallmark Unique Identification Number or HUID. This number is alphanumeric ie something like – AZ4524. How many karats gold is can be known by hallmarking. 2. Cross-check the price​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​ have cross-check the correct weight of the gold and its price on the day of purchase from multiple sources (such as the India Bullion and Jewelers Association website). The price of gold varies according to 24 carat, 22 carat and 18 carat. 24 karat gold is considered to be the purest gold, but it is not used in jewelry because it is too soft. Gold of 22 carats or less is usually used for jewelry. 3. Don't Pay Cash, Take Bill While buying gold, it is better to pay through UPI (like BHIM app) and digital banking instead of cash payment. You can also pay by debit or credit card if you wish. Don't forget to take the bill after this. Be sure to check the packaging if you ordered online.

Image Credit: (Divya-Bhaskar): Images/graphics belong to (Divya-Bhaskar).