Leaders Online Desk: The price of gold continues to rise. Today, Tuesday (April 16), the gold rate reached a new peak. Today, the price of pure gold rose by Rs 701 to Rs 73,514 per 10 grams. Silver price also rose to Rs 83,632 from Rs 83,452 per kg. Due to the Iran-Israel war, the price of gold is increasing and so far in the month of April, gold has become expensive by Rs 4,500. (Gold Price Today)
According to the India Bullion and Jewelers Association, pure gold i.e. 24 carat opened at Rs 73,514 per 10 grams, 22 carat at Rs 67,339, 18 carat at Rs 55,136 and 14 carat at Rs 43,006. Silver rate opened at Rs 83,632 per kg.
What is the reason for the increase in gold prices?
Investors have turned to gold as a safe haven investment due to the Iran-Israel conflict. Due to this, the price of gold is increasing. Gold and silver prices in India depend on many factors, including the value of the rupee against the dollar. Global demand also plays an important role in determining gold price trends. Concerns about rising geopolitical tensions between Iran and Israel have fueled demand as a safe-haven investment. As a result, gold prices rose on Tuesday, Reuters reported.
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 with 585. (Gold Price Today)
#Gold and #Silver opening #Rates for 16/04/2024
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— IBJA (@IBJA1919) April 16, 2024
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