Today i.e. 29th November, the price of gold is increasing. According to the India Bullion and Jewelers Association (IBJA), the price of 10 grams of 24 carat gold rose by Rs 451 to Rs 76,738. Earlier, the price of gold was Rs 76,287 per ten grams.
Also, the price of silver is also increasing today. It has increased by Rs 1346 to Rs 89,250 per kg. Earlier the price of silver was Rs.87,904. Also, on October 23 silver rose to Rs. 99,151 and on October 30, gold was Rs. 79,681 reached an all-time high.
4 Gold Price in Metro and Bhopal
- Delhi: The price of 10 grams of 22 carat gold is Rs 71,760 and the price of 10 grams of 24 carat gold is Rs 78,260.
- Mumbai: The price of 10 grams of 22 carat gold is Rs 71,600 and the price of 10 grams of 24 carat gold is Rs 78,110.
- Kolkata: The price of 10 grams of 22 karat gold is Rs 71,600 and the price of 24 karat 10 grams of gold is Rs 78,110.
- Chennai: The price of 10 grams of 22 carat gold is Rs 71,600 and the price of 10 grams of 24 carat gold is Rs 78,110.
- Bhopal: The price of 10 grams of 22 carat gold is Rs 71,650 and the price of 10 grams of 24 carat gold is Rs 78,160.
Gold has increased by Rs 13,386 so far this year
According to IBJA, the price of gold has increased by Rs 13,386 so far this year. Also, silver prices increased by Rs 15,855. On January 1, gold was Rs 63,352 per 10 grams, which has now touched Rs 76,738 per 10 grams. The price of one kg of silver has increased from Rs 73,395 per kg to Rs 89,250 per kg.
Gold can go up to 85 thousand rupees by June
Ajay Kedia, director of Kedia Advisory, says gold was supposed to fall after a big rally, it has. Its price is less likely to go below 74 thousand rupees per 10 grams.
After the US, the UK has reduced interest rates. This will increase buying of gold ETFs. In such a situation, gold can reach 85 thousand rupees per 10 grams by June 30 next year.
Keep these 3 things in mind while buying gold
Keep these 3 things in mind while buying gold
1. Buy only certified gold
Always buy certified gold bearing the Bureau of Indian Standards (BIS) hallmark. 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 the gold is can be known by hallmarking.
2. Check the cross price 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.
3. Don't pay cash, take bills
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 ordering online.
Image Credit: (Divya-Bhaskar): Images/graphics belong to (Divya-Bhaskar).