Gold and Silver Prices Fluctuate; Check Latest Rates. 22-karat gold is 91.6% pure; always check the hallmark when buying jewelry to avoid adulteration.
Gold-Silver Price Today: Gold and silver prices continue to fluctuate. On Monday, the price of 24-karat gold fell to ₹87,719 from the previous close of ₹88,169. Similarly, the price of silver decreased to ₹97,407 per kilogram from ₹97,620 per kilogram. Prior to this, gold prices had been steadily rising due to several domestic and international factors. However, this recent decline has created a stir in the bullion market.
Why Did Gold and Silver Prices Fall?
Gold and silver prices depend on various economic and global conditions. The strength of the US dollar, changes in interest rates, inflation rates, and fluctuations in global markets all impact the prices of these metals. Currently, due to the policies of the US Federal Reserve and stability in the stock market, investors are investing in assets other than gold, leading to a price decline.
Today's Gold Prices (22K, 24K, 18K) in Major Cities
Slight variations in gold prices are observed across different cities in India. The prices of 22-karat, 24-karat, and 18-karat gold differ in major cities like Chennai, Mumbai, Delhi, Kolkata, Ahmedabad, Jaipur, Patna, Lucknow, Gurugram, and Chandigarh. If you are planning to buy gold, be sure to check the latest rates for your city.
What is Hallmarking and Why is it Important?
22-karat gold, with a purity of 91.6%, is most commonly used in jewelry. However, sometimes 89% or 90% pure gold is sold as 22-karat gold through adulteration. Therefore, always check the hallmark when buying gold.
In India, the Bureau of Indian Standards (BIS) is the certifying authority for hallmarking, determining the purity of gold. Under the hallmarking system, 24-karat gold is marked 999, 23-karat is 958, 22-karat is 916, 21-karat is 875, and 18-karat is 750. This removes any doubt about purity.
How to Check Gold Purity?
To check gold purity, a simple calculation can be performed. For example, if you have 22-karat gold, divide 22 by 24 and multiply by 100. Thus, the purity of 22K gold is (22/24) × 100 = 91.6%.
What to Do Before Buying Gold?
Check the hallmark – Look for the BIS hallmark to ensure gold purity.
Always get a bill – Don't forget to obtain a receipt from the jeweler at the time of purchase.
Verify the jewelry carefully – Buy only from BIS-certified jewelers to confirm weight and purity.
Avoid adulteration – Unhallmarked jewelry may be cheaper in local markets, but the risk of adulteration is higher.
