Leaders Online: Gold price continues to rise. Today, Tuesday (9th), the price of pure gold increased by Rs 228 to Rs 71,507 per 10 grams on the occasion of Gudi Padwa. On Monday, the price of pure gold closed at Rs 71,279. It opened at Rs 71,507 on Tuesday. Silver rate has gone up to Rs 81,700 per kg. (Gold Price Today)
According to the India Bullion and Jewelers Association, on Tuesday, pure gold ie 24 carat opened at Rs 71,507 per 10 grams, 22 carat at Rs 65,500, 18 carat at Rs 53,630 and 14 carat at Rs 41,832. Silver opened at Rs 81,700 per kg.
What is the reason for the increase in gold prices?
Hopes of an interest rate cut by the Federal Reserve and increased gold purchases by global central banks have boosted gold prices in international markets. The ongoing geopolitical tensions at the global level are also considered to be an important reason behind the rise in gold prices. Gold is seen as a safe investment (safe haven asset). Also, as the wedding season is going on in India, the demand for gold has increased. This has led to a huge rise in gold prices since March 2024. In the month of April, gold broke all the highs.
How to assay pure gold?
24 carat is considered pure gold in the bullion market. 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 585. (Gold Price Today)
#Gold and #Silver opening #Rates for 09/04/2024
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— IBJA (@IBJA1919) April 9, 2024
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