There was a rise in the prices of gold and silver today i.e. on October 11 (Friday). According to India Bullion and Jewelers Association (IBJA), the price of 10 grams of 24 carat gold increased by Rs 785 to Rs 75,623. Earlier its price was Rs 74,838 per ten grams.
At the same time, the price of silver also increased today. It increased by Rs 1,610 to Rs 89,963 per kg. Earlier, silver was at Rs 88,353. This year, silver has reached its all-time high of Rs 94,280 per kg on May 29.
Keep these 3 things in mind while buying gold
1. Buy only certified gold Always buy certified gold bearing the hallmark of Bureau of Indian Standards (BIS). There is a 6 digit hallmark code on gold. This is called Hallmark Unique Identification Number i.e. HUID. This number is alphanumeric i.e. something like this – AZ4524. Through hallmarking it is possible to find out how many carats of gold is.
2. Cross check the price Cross-check the correct weight of gold and its price on the day of purchase from multiple sources (such as the website of India Bullion and Jewelers Association). The price of gold varies according to 24 carat, 22 carat and 18 carat. 24 carat gold is considered to be the purest gold, but jewelery is not made from it because it is very soft.
3. Do not pay cash, take bill While buying gold, it is better to make payment through UPI (like BHIM app) and digital banking instead of cash payment. If you want, you can also make payment through debit or credit card. After this don't forget to take the bill. If ordering online then definitely check the packaging.
Graphics Source: VaskarAssets
