Gold-Silver Price: Gold and silver have made an all-time high today i.e. on May 21. According to the website of India Bullion and Jewelers Association (IBJA), during trading, 10 grams of gold became costlier by Rs 839 and reached Rs 74,222.
Silver has also reached an all-time high today. It became costlier by Rs 6,071 and reached Rs 92,444 per kg. Earlier on Monday, May 20, silver was at Rs 86,373.
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Gold price in 4 metro cities and Bhopal
- Delhi: The price of 10 grams of 22 carat gold is Rs 68,450 and the price of 10 grams of 24 carat gold is Rs 74,660.
- Mumbai: The price of 10 grams of 22 carat gold is Rs 68,300 and the price of 10 grams of 24 carat gold is Rs 74,510.
- Kolkata: The price of 10 grams of 22 carat gold is Rs 68,300 and the price of 10 grams of 24 carat gold is Rs 74,510.
- Chennai: The price of 10 grams of 22 carat gold is Rs 68,600 and the price of 10 grams of 24 carat gold is Rs 74,840.
- Bhopal: The price of 10 grams of 22 carat gold is Rs 68,350 and the price of 10 grams of 24 carat gold is Rs 74,560.
According to IBJA, the price of gold has risen by Rs 10,870 so far this year.
The price of gold on January 1 was Rs 63,352 which has now reached Rs 74,222 per 10 grams. The price of one kg silver has increased from Rs 73,395 to Rs 92,444.
Gold can reach up to 85 thousand in the next one year
According to Anuj Gupta, Commodity and Currency Head of HDFC Securities, gold and silver can also see an increase in the coming days. In the next one year, the price of gold can reach 80 thousand to 85 thousand rupees per 10 grams. Silver can also reach 1 lakh rupees per kilogram.
Keep these 4 things in mind while buying gold
1. Buy only certified gold
Always buy certified gold bearing the hallmark of Bureau of Indian Standards (BIS). Under the new rule, from April 1, gold will not be sold without six-digit alphanumeric hallmarking. Just like there is a 12-digit code on the Aadhar card, similarly there will be a 6-digit hallmark code on gold. This is called Hallmark Unique Identification Number or HUID.
This number can be alphanumeric, i.e. something like this- AZ4524. Through hallmarking, it has become possible to find out how many carats a gold is.
2. Cross check the price
Cross check the exact weight of the gold and its price on the day of purchase from multiple sources (such as the website of the India Bullion and Jewelers Association). The price of gold varies according to 24 carat, 22 carat and 18 carat.
24 carat gold is considered the purest gold, but its jewellery is not made because it is very soft. Usually 22 carat or less carat gold is used for jewellery. Check the price according to carat like this: Suppose the price of 24 carat gold is 70 thousand rupees per 10 grams. That means the price of one gram gold is 7000 rupees. In such a situation, the price of 1 gram gold of 1 carat purity is 7000/24 i.e. 291 rupees.
Now suppose your jewellery is made of 18 carat pure gold, then 18×291 means its price is Rs 5,283 per gram. Now the correct price of gold can be calculated by multiplying the number of grams of your jewellery by Rs 5,283.
3. Do not make cash payment, take the bill
Cash payment can prove to be a big mistake while buying gold. It is better to make payment through UPI (like Bhim App) and digital banking. If you want, you can also make payment through debit or credit card. After this, do not forget to take the bill. If you have ordered online, then definitely check the packaging.
4. Know the reselling policy
Many people consider gold as an investment. In such a situation, it is important that you have complete information about the resale value of gold. Also, talk to the store employees about the buyback policy of the concerned jeweler.
