Gold and Silver Prices Fluctuate; Verify Hallmark Before Purchase. Check Local Rates.
Gold-Silver Price: Gold and silver prices continue to fluctuate. Uncertainty in global markets persists due to the ongoing US-China tariff war, impacting precious metal prices. Monday saw a decline in gold prices, while silver prices saw a slight increase.
Latest Gold and Silver Prices
According to the India Bullion and Jewellers Association (IBJA), the price of 24-carat gold decreased to ₹85,932 per 10 grams on Monday, down from the previous close of ₹86,027. Silver prices increased from ₹96,422 per kg to ₹96,634 per kg. Minor fluctuations were also observed in the prices of 22-carat, 18-carat, and other purities of gold.
What is the Gold Price in Your City?
Gold prices vary across major cities in India. Slight differences in 22-carat and 24-carat gold prices are observed in major cities including Delhi, Mumbai, Chennai, Kolkata, Jaipur, Patna, Lucknow, Ghaziabad, Noida, and Gurugram. It is recommended to check local market rates before making a purchase.
Importance of Gold Hallmarking
Checking for hallmarking is crucial when buying jewelry. While 22-carat gold has a purity of 91.6%, adulteration sometimes reduces its purity. The hallmark identifies the gold's purity. For instance, 24-carat gold is marked 999, 22-carat is 916, 18-carat is 750, and 14-carat is 585. Always verify hallmarking before purchasing to avoid fraud.
How to Check Gold Purity?
To check gold purity, examine the karat. 24-carat gold is 99.9% pure, while 22-carat gold is 91.6% pure. 18-carat gold contains 75% pure gold, with the remainder being other metals. A simple calculation can determine purity: for 22-carat jewelry, divide 22 by 24 and multiply by 100 to get 91.6% purity.
