Gold and Silver Price Fluctuations Continue. 22-karat gold is 91.6% pure, but purity can decrease due to adulteration. Always check for the hallmark when buying jewelry.
Gold-Silver Price: Gold and silver prices have been fluctuating recently. On Wednesday, gold prices reached ₹85,481, while silver reached ₹94,170 per kilogram. Find out the latest prices for 23-karat, 22-karat, and 18-karat gold, and current rates in your city below.
Latest Gold and Silver Rates
According to the India Bullion and Jewellers Association (IBJA), gold and silver prices changed on Wednesday. 999 purity gold was priced at ₹85,481 per 10 grams, while 995 purity gold reached ₹85,139 per 10 grams. 916 purity gold was priced at ₹78,301, and 750 purity gold was available at ₹64,111 per 10 grams. Silver was priced at ₹94,170 per kilogram.
What is Gold Hallmark?
Gold hallmarking is essential for identifying the purity of gold. 22-karat gold is 91.6% pure, but due to adulteration, it can sometimes decrease to 89% or 90%. Always check the hallmark when buying jewelry.
A 375 hallmark indicates 37.5% pure gold. A 585 hallmark signifies 58.5% purity, while a 750 hallmark denotes 75% pure gold. A 916 hallmark indicates 91.6% pure gold, a 990 hallmark indicates 99% purity, and a 999 hallmark means the gold is 99.9% pure.
Gold and Silver Price Fluctuations in the Futures Market
On February 11th, gold prices on the Multi Commodity Exchange (MCX) reached a record high of ₹86,360 per 10 grams. However, it later declined and closed at ₹85,610 per 10 grams. In global markets, gold prices in New York reached $2,968.39 per ounce.
Meanwhile, silver prices also fell. Silver decreased by ₹681, reaching ₹94,614 per kilogram. The March silver contract saw a 0.71% decline due to selling in the market. Globally, silver prices remained at $31.98 per ounce.
Gold and Silver Prices in the National Capital
On February 11th, the seven-day rise in gold prices came to a halt. Due to sluggishness in global markets and selling by stockists, gold prices fell by ₹200 to ₹88,300 per 10 grams. 99.5% pure gold also fell by ₹200, reaching ₹87,900 per 10 grams.
Silver prices also saw a sharp decline, falling by ₹900 to ₹96,600 per kilogram. According to market analysts, statements by US Federal Reserve Chairman Jerome Powell and emerging indications regarding US interest rates impacted the decline in gold prices. However, globally, gold was trading at $2,933.10 per ounce.
How to Check Gold Purity?
Checking the purity of gold is crucial if you are buying it. The hallmark indicates the purity of the gold.
24-karat Gold – 999 hallmark (99.9% purity)
23-karat Gold – 958 hallmark (95.8% purity)
22-karat Gold – 916 hallmark (91.6% purity)
21-karat Gold – 875 hallmark (87.5% purity)
18-karat Gold – 750 hallmark (75% purity)
If your jewelry is 22-karat, divide 22 by 24 and multiply by 100 to get the purity percentage.
