Gold-Silver Price Today: Buying gold during Navratri is considered very auspicious. But, for the last few days, gold prices have been continuously rising. According to GoodReturns website, the price of 24 carat gold rose by Rs 270 in early trade on Friday. Ten grams of gold was sold for Rs 60,760. At the same time, people have got relief in the price of silver. Today silver prices fell by about Rs 500. After this, the price of one kilogram of silver became Rs 74,100. The price of 22 carat gold also increased by Rs 250. Today 22 carat gold is being sold at Rs 55,700. The price of ten grams of 24 carat gold in Mumbai is Rs 60,760, equal to the prices of Kolkata and Hyderabad. Whereas, the price of ten grams of 24 carat gold is Rs 60,910 in Delhi, Rs 60,760 in Bengaluru and Rs 60,930 in Chennai. At the same time, the price of ten grams of 22 carat gold in Mumbai is Rs 55,700, equal to Kolkata and Hyderabad. Ten grams of 22 carat gold is being sold in Delhi at Rs 55,850, in Bengaluru at Rs 55,700 and in Chennai at Rs 55,850.
Tag: gold price
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Gold-Silver Price: Gold price increased during Navratri, still it is a better time to buy, know what is today’s price
Gold-Silver Price Today: Gold prices continue to rise during Navratri. According to the GoodReturns website, on Monday, gold became costlier by Re 1 per gram compared to the previous day’s similar rates. Therefore, one gram of 22-carat gold has become ₹5541. Whereas, eight grams will be available for ₹44,328, 10 grams and 100 grams will be available for ₹55,410 and ₹5,54,100 respectively. At the same time, to buy 24K gold, the price of one gram will be ₹ 6045, for eight grams ₹ 48,360, for 10 grams ₹ 60,450 and for 100 grams ₹ 6,04,500 will have to be paid. These gold prices to customers do not include GST, TCS and other levies. According to experts, as the war crisis in West Asia deepens, gold prices will rise. The reason for this is that even today gold is considered a safe investment (safe investment) are seen as. Meanwhile, GoodReturns data shows that the daily rate of silver is the same as yesterday. Therefore, today the price of one gram of silver is ₹74.10, the price of eight grams is ₹592.80, the price of 10 grams is ₹741, whereas, the price of 100 grams is ₹7410 and the price of one kg of silver is ₹74,100.
Gold price in other cities
City 22 carats (per 10 grams) 24 carats (per 10 grams)
Ahmedabad ₹55,450 ₹60,500
Bengaluru ₹55,410 ₹60,450
Hyderabad ₹55,410 ₹60,450
Kolkata ₹55,410 ₹60,450
Mumbai ₹55,410 ₹60,450
Chennai ₹55,560 ₹60,610
Delhi ₹55,560 ₹60,600
How to identify the purity of gold
The purity of gold can be determined on the basis of carat. BIS Hallmark has been started by the government to measure the purity of gold. In this, more carat means more pure gold. Gold is divided into 24K, 22K and 18K carat. 24K gold is considered to be the purest. There is no adulteration of any kind in it. 22K gold consists of two parts metals like silver, zinc, nickel and the remaining part is gold. Most jewelery is made in 22k gold only. At the same time, 75 percent of 18K gold is gold. The remaining 25 percent is made up of other metals.
How to check purity of gold
To check the purity of gold, karat value is shown on gold jewellery, which shows its purity. 24 carat gold is completely pure. Low karat gold may contain a mixture of other metals. Also, the substitutability value of gold can be determined using the Specific Gravity Tester. This instrument measures the ratio between the weight of the gold and the weight you provide, allowing you to check the purity. In most countries, gold jewelery has a stamp that lets you check its karat and purity. Additionally, you can purchase special gold testing kits, which include various testing tools to identify non-gold. If you have doubts about the purity of gold, you can seek advice from a local gold corporation or a certified jeweler.
How is the price of gold determined in India?
Many factors influence the price of gold in India. Here are some important factors that can affect the price of gold:
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international market rates: Import of gold in India mainly depends on the market rates of commercial markets such as London, New York, and China. Based on the activities happening in these markets, confident investors estimate the changes in the price of gold.
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USD/INR rate: Valuation of dollar in India is also an important factor to determine the price of gold in Indian Rupee. When the valuation of the dollar changes, the price of gold in India may be affected.
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gold supply: Supply of various gold accounts, jewellery, and markets can also impact the price of gold.
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demand for gold: Demand for gold in utility, jewellery, manufacturing industries and various industries can also affect its prices.
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Reserve Bank policies: Taken by Reserve Bank of India and Government. This may affect gold prices depending on the bank’s policies.
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foreign component: Factors around the world such as economies, affordability, politics, and foreign investment status can also affect gold prices.
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Israel War: Gold and silver prices will be affected from trade in India, know why traders are worried
Israel Hamas War: The impact of the ongoing war between Israel and Hamas in India is beginning to be seen on the Indian market and economy. The demand for gold and silver has increased in the physical market. Due to this, the premium on gold has increased rapidly. Due to this, the prices of gold and silver (Gold-Silver Price Hike) has also increased. It is being told that the premium on gold has increased by seven thousand rupees. Now the premium on 10 grams of gold has become Rs 2,000. Earlier the premium on 10 grams of gold was only Rs 1300. Due to high premium, bullion traders at many places have refused to sell gold. Whereas, the premium on silver has increased by one thousand rupees per kg. At present the premium on silver is Rs 3500. Earlier it used to cost only Rs 2500. Indian bullion traders are facing this problem at a time when the demand for gold has increased in the Indian market. Due to the festive and wedding season, there is a surge in demand every year from October to December. 700-800 tonnes of gold is consumed every year in India. But, out of this only 1 tonne is produced in India. The remaining gold in the country is imported from outside.
Insurance premium and shipping will also be affected
Experts believe that Indian exporters sending goods to Israel may face higher insurance premiums and shipping costs due to the Israel-Hamas conflict. Hamas terrorists launched an unexpected attack on Israel on Saturday during a major Jewish holiday, worsening the situation there. International trade experts believe that the conflict may reduce the profits of domestic exporters, although it will not have any impact on the size of trade unless the situation worsens. Research institute Global Trade Research Initiative (GTRI) said on Sunday that the struggle for India’s merchandise exports could lead to an increase in insurance premiums and shipping costs. ECGC of India can charge higher risk premium from Indian companies exporting to Israel. ECGC Limited (formerly Export Credit Guarantee Corporation of India Limited) is wholly owned by the Government of India.
The situation will become serious due to port being affected
Mumbai-based exporter and founder president of Technocraft Industries India, Sharad Kumar Saraf, said that if the situation worsens, things could get worse for our exporters from that region. Whereas, GTRI co-founder Ajay Srivastava said that trade could be seriously affected if operations at Israel’s three largest ports, Haifa, Ashdod and Eilat, are disrupted. India-Israel trade in goods and services sectors is estimated to be US $ 12 billion in 2022-2023. Indian companies like Sun Pharma, Tata Consultancy Services, Wipro, Tech Mahindra, State Bank of India, Larsen & Toubro and Infosys have presence in Israel. Israeli companies have invested in renewable energy, real estate and water technologies in India. They are also setting up research and development centers and production units in India. Between April 2000 and June 2023, Israeli companies have invested US$286 million (FDI) in India.
Air India canceled Tel Aviv flights till October 14
Air India has canceled all flights to Tel Aviv, Israel till 14 October. 14 employees of the company have returned to India from Tel Aviv. After the attack by Hamas terrorists on Israel’s Tel Aviv on Saturday, a war-like situation has arisen there. A company official said that a total of 14 personnel including crew members have returned to New Delhi from Tel Aviv to Ethiopia flight. An airline spokesperson said that keeping in mind the safety of passengers and crew members, all flights to and from Tel Aviv have been canceled until October 14, 2023. According to Air India spokesperson, all possible support will be provided to the passengers who have booked tickets for this period. The airline operates five weekly flights to Tel Aviv. These flights are operated on Monday, Tuesday, Thursday, Saturday and Sunday. The airline had also canceled its flights to and from Tel Aviv on Saturday.