Gold Price Today: There has been a significant change in the prices of gold and silver in the Indian bullion market today. The price of gold is showing a declining trend, while the price of silver has increased significantly. Currently, the price of 10 grams of gold in the Indian market is around Rs 98,000. Similarly, the price of silver has reached close to Rs 1 lakh per kilogram, which is an important thing for investors and buyers.
At the national level, the price of 10 grams of 24 carat gold of 999 purity is Rs 98,800. On the other hand, the price of silver of 999 purity has reached around Rs 1,06,952 per kg. This fluctuation depends on the international market trends and local demand-supply factors. It is important for common people to know that these prices do not include local taxes and making charges.
Analysis of the fall in gold prices
According to the India Bullion and Jewelers Association, there has been a significant change in the prices of 22 carat gold. The price of 916 purity i.e. 22 carat gold was Rs 90,880 per 10 grams last evening, which has come down to Rs 90,500 this morning. This decline is about Rs 380 per 10 grams, which can be a relief for buyers. Different amounts of reduction in prices have been observed depending on the different purities of gold.
There can be many reasons behind this decline such as the strength of the dollar in the international market, improvement in the global economic situation, and reduction in local demand. This change in gold prices is an important signal to investors that the market continues to fluctuate. For those who are planning to buy gold, this time may be favorable. However, it is important to understand the market trends and take decisions at the right time.
Sharp rise in silver prices
In contrast to the fall in gold prices, silver prices have seen a significant rise. The price of silver has reached around Rs 1 lakh per kilogram, indicating its rising demand and limited supply. This rise may be due to the increased industrial use of silver and its growing popularity as an investment. Silver is not only used in making jewellery but is also in great demand in industries like electronics and solar panels.
The rising prices of silver can be a matter of concern for those who are planning to buy it. However, for those who already have silver investments, it is a positive sign. This surge in silver prices shows how dynamic the precious metals market is. Investors are advised to watch the market trends carefully and plan their investment strategy accordingly.
Current gold and silver prices in major cities
There is a slight difference in the prices of gold and silver in different cities of India. In Delhi, the price of 10 grams of gold is Rs 55,100 and silver is Rs 78,500 per kg. In Mumbai, gold is available at Rs 54,950 and silver at Rs 78,300 per kg. In Kolkata, the price of gold is Rs 55,000 and silver is Rs 78,400. Gold is a little expensive in Chennai, which is available at Rs 55,450 and silver is available at Rs 79,000.
In South Indian cities like Bengaluru and Hyderabad, the price of gold is Rs 55,000 and silver is Rs 78,600 per kg. In western states, gold is available in Ahmedabad at Rs 55,050. In North Indian cities, the price of gold is Rs 55,100 in Jaipur and Rs 55,120 in Lucknow. In eastern India, the price of gold is Rs 55,000 in Patna. These prices vary due to local taxes, transportation costs and local demand.
Reasons for difference in prices and important points
The prices released by the India Bullion and Jewelers Association give the standard price of gold of different purities. It is important to note that all these prices are before making charges and taxes. The new prices released by IBJA are valid across the country but do not include GST. Taxes, making charges, and other charges are added to these prices when you actually buy gold or silver.
The price of gold or silver at the time of actual purchase is higher than these base rates. This includes GST, making charges, hallmarking charges and sometimes stone charges as well. Different jewelers keep their making charges different, so it is beneficial to ask the rates from multiple shops before purchasing. This information helps buyers to make the right decision and they can shop according to their budget.
Easy ways to know the price of gold and silver sitting at home
In today’s digital age, it has become very easy to know the price of gold and silver from home. The simplest way is through missed call where you can give a missed call to the number 8955664433. In a short while, you will get the latest price of 22 carat, 18 carat and other purities of gold through SMS. This service is available all days of the week, except for holidays declared by the Central Government and Saturdays and Sundays.
Apart from this, there are many websites available on the Internet where you can see the prices in real time. Official websites like www.ibja.co and ibjarates.com provide reliable information. There are also many mobile applications that keep updating the prices regularly. There are also many pages on social media that share daily rates. This information is very useful for investors and buyers.
Important Tips for Investing and Buying
Before investing or buying gold and silver, it is important to keep some important things in mind. First of all, one should understand the market trends and keep an eye on the fluctuations in prices. It is beneficial to check the rates several times in a single day and buy at the right time. One should buy only hallmarked gold which guarantees purity. It is wise to compare quotations from several jewelers and choose the best deal.
If you are buying gold and silver for investment, you can also consider options like Gold ETF, Digital Gold or Silver ETF. These options avoid the problem of physical storage and also provide liquidity. Long-term investors should not be afraid of market volatility because historically gold and silver have given good returns. You should invest according to your financial situation and not keep all your eggs in one basket.
Disclaimer
The gold and silver prices presented in this article are for general information purposes only. This information is based on the India Bullion and Jewelers Association and various reliable sources, which keep changing from time to time. Actual prices may vary due to GST, making charges and other charges in local markets. Please confirm the current prices with authentic sources or local jewellers before making any investment or purchase decision.
