Achi news desk-
Gold prices have fallen in Indore this week. There was a decrease of Rs 1800. At the opening of the market on Saturday, the rate opened at Rs 72 thousand 200. On Monday, the price of this gold was around Rs 74 thousand. The rate may drop to Rs 71,000 in the coming week. This estimate is of bullion
.
At the same time, a drop of Rs 1300 was seen in silver this week. Last Monday, silver was Rs 88 thousand 500 per kg, which came down to Rs 87 thousand 200 on the weekend.
Weekly variations of gold and silver and reasons.
– Gold and silver prices have fallen more in Indore on Thursday and Friday. Concerns about long-term US interest rates are having an impact. Fears about interest rates from the US Federal Reserve have boosted the dollar. This also had an effect. On the Comex, gold fell $19 to trade at $2341 an ounce and silver fell 37 cents to trade at $30.60 an ounce.
– On Comex itself, after increasing to $2,343, gold futures came down to $2,341 and then down to $2,325 an ounce. After going up to $30.60, silver was seen trading at $30.54 an ounce and then at $30.04 an ounce.
Gold was also affected by reduced demand for a safe haven. The untimely demise of the Iranian President did not increase tensions in the Gulf countries, as was initially expected. If tension increases here in the coming days, it will affect the price of gold. Gold will become expensive.
(As the bullion traders of Indore said)
Day by day rise and fall of gold and silver in Indore this week
Keep these things in mind when buying gold
1. Buy only certified gold
Always buy certified gold with Hall Mark of Bureau of Indian Standards (BIS). Under the new rule, gold will not be sold without 6-digit alphanumeric hallmarks from April 1. Just like the Aadhaar card has a 12-digit code, similarly gold will have a 6-digit hall mark code. This is called the Hall Mark Unique Identification Number ie HUID.
This number can be alphanumeric ie something like this – AZ4524. Through authentication it has become possible to discover several carats of gold.
2. Cross check the price
Cross-check the correct weight of gold and its price on the day of purchase from multiple sources (such as the India Bullion and Jewelers Association website). The price of gold varies according to 24 carat, 22 carat and 18 carat.
24 carat gold is considered the purest gold, but it is not made into jewelery because it is very soft. Generally, 22 carat or less gold is used for jewellery.
3. Check price by carat like this
Suppose the price of 24 carat gold is Rs 60 thousand per 10 grams. That means the price of one gram of gold was Rs 6000. In such a situation, the price of 1 gram gold of 1 carat purity is 6000/24 ​​ie Rs 250. Now your jewelery is probably made of 18 carat pure gold, then its price is 18×250 ie its price is Rs 4,500 per gram. Now the exact price of gold can be calculated by multiplying the number of grams of your jewelery by Rs 4,500.
There was an increase of 16 per cent in 2023
In 2023, gold had become more costly by more than Rs 8 thousand. At the beginning of 2023, gold was at Rs 54,867 per gram, which reached Rs 63,246 per gram on December 31. That means in the year 2023, its price had increased by Rs 8,379 (16%). While in April 2023, gold price had crossed Rs 59 thousand. That means, between January and April, gold had become more expensive by around Rs 5 thousand.
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