Leaders Online Desk: Akshaya Tritiya is considered one of the three and a half Muhurtas (Akshaya Tritiya 2024). Akshaya Tritiya is coming on May 10. Gold Price Today is bought on this occasion. But the price of gold and silver has already increased. Today, Monday (6th), pure gold i.e. 24 carat rose by Rs 430 to open at Rs 71,621 per 10 grams. Silver Price Today increased by Rs 976 to Rs 80,965 per kg. Earlier on May 3, silver rate was Rs 79,989 per kg.
According to India Bullion and Jewelers Association, on May 6, 24 carat gold opened at Rs 71,621, 22 carat at Rs 65,605, 18 carat at Rs 53,716 and 14 carat at Rs 41,898. Silver opened at Rs 80,965 per kg.
So far this year, the price of gold has increased by around Rs 8,200. January 1 gold rate was Rs 63,352 per 10 grams. Now this rate has gone up to Rs 71,621.
This unprecedented rise in gold prices indicates global uncertainty. Factors such as trade tensions, economic conflicts between major world powers, record high interest rates in advanced economies and especially war in the Middle East have led investors to turn to gold as a safe haven investment. As a result, gold has become expensive. Also, due to the increase in demand for wedding gold in India, it is seen that the price is increasing.
Why is gold expensive, what factors are responsible?
- Increased demand due to marriages in the country
- State of war in the Middle East
- Gold is trending more as a safe haven i.e. the safest investment
- High interest rates in advanced economies
- Overall global uncertainty
How to recognize pure gold?
24 carat is pure in the bullion market Gold is considered But, 22 carat gold is used to make jewellery. It contains 91.66 percent gold. There are 5 hallmarks associated with hallmarks for jewelry purity. 999 on 24 carat gold, 916 if it is 22 carat gold and 750 on 18 carat gold. If the jewel is 14 carats, it is marked with 585. (Gold Price Today)
#Gold and #Silver Opening #Rates for 06/05/2024
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