Gold Price Update: There is good news for gold buyers. So far, the price of gold has fallen by Rs 1068 per ten grams in the month of August. At the same time, the price of silver has become cheaper by up to Rs 4600 per kg in the month of August.
On July 30, the price of silver closed at Rs 67847 per kg. Whereas on Friday (August 13), the price of silver has come to Rs 63238 per kg. If the experts are to be believed, there may be a further fall in the price of silver in the coming days.
Market remains closed on weekend
The Indian Bull and Jewelers Association (IBJA) does not release gold and silver rates on Saturdays and Sundays due to holidays. If the experts are to be believed, the price of gold may fall further in the coming days. The price of gold has reached a five-month low.
Latest gold, silver prices in Indian bullion market
On Friday, the last day of this trading week, gold rose by Rs 222 to close at Rs 45,586 per 10 grams. On the other hand, silver had closed at Rs 45,364 per 10 grams on Thursday. On the other hand, silver also rose by Rs 100 to Rs 61,045 per kg on Friday, which had closed at Rs 60,945 per kg on Thursday. The futures prices of both have increased.
Gold becomes cheaper by up to Rs 9500 per 10 grams
Gold is still selling cheaper by about Rs 9,498 per 10 grams than its all-time high. Last year in the month of August 2020, gold had reached an all-time high of Rs 56,200 and currently gold is at Rs 46702 per 10 grams. This is a huge downside for investing.
Talking about silver, its all-time high level so far is Rs 79,980 per kg. Accordingly, silver has also become cheaper by Rs 17000 per kg from its all time high.
Gold at lowest price in 5 months
Earlier this trading week, gold prices in the country hit the lowest level in the last five months. At the same time, in the month of August, till now there has been a significant fall in the prices of gold and silver. So far in the month of August, gold has become cheaper by more than one thousand rupees. While the price of silver has fallen by Rs 4600 per kg. According to experts, this is happening due to the rise in the dollar against the rupee.
Gold, silver become cheaper in August
In the month of August, the price of gold has fallen by Rs 1068 per ten grams so far. The gold which was at Rs 48001 per ten grams on July 30, had closed at Rs 46940 per 10 grams on Friday i.e. August 13, the last day of this trading week.
There was a rise in the price of gold on Friday. On the other hand, if we talk about silver, in the month of August, till now silver has become cheaper by Rs 4600 per kg. On July 30, the price of silver closed at Rs 67847 per kg. Whereas on Friday 13 August, the price of silver has come to Rs 63238 per kg. If the experts are to be believed, there may be a further fall in the price of silver in the coming days.
Gold may fall to touch 52000 mark by Diwali
If experts are to be believed, further decline in gold can be seen. At present, there is neither any festive season in the country nor is there any wedding ceremony. Along with this, the effect on the gold market is also being seen due to the implementation of the hallmarking rule. In such a situation, it is expected that the prices of gold and silver in the country will remain stable or fall for the next few days. According to bullion market experts, by Diwali, gold can cross the figure of Rs 52000 per 10 grams.
In such a situation, if you invest in gold now, then you can make good profits in the coming days. Not only this, according to a report, like last year, this year also gold can make new records. Some believe that by the end of this year, gold may even cross Rs 60,000 per 10 grams. Therefore, gold buyers or investors should buy gold now. So that you can get good returns in the coming days.
Jewelery made of such gold
24 carat gold is the purest, but 24 carat gold is not used to make jewelry. Generally, 22 carat gold is used to make jewellery, in which 91.66 per cent is gold. If you take 22 carat gold jewelery then you should know that 22 carat gold with 2 carat any other metal has been mixed in it.
How to identify purity of jewelry
There are 5 types of marks related to the hallmark regarding purity in jewelry, and these marks are in the jewelry. One of these is about the carat. If there is 22 carat jewelry, then 916 is written on it, 21 carat jewelery 875 and 18 carat jewelery 750 is written in it. On the other hand, if the jewelery is of 14 carats, then 585 will be written in it. You can see this mark in the jewelry itself.
Buy gold only after checking hallmark
While buying gold, keep in mind its quality. Gold jewelery should be bought only after seeing the hallmark. The hallmark is a government guarantee of gold and the Bureau of Indian Standards (BIS) is the only agency in India that determines the hallmark. Hallmarking scheme works under the Bureau of Indian Standards Act, rules and regulation.
This content was originally published here.
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