Thursday, July 18, 2024

Gold Rate Today | Gold rate hits a new high, rises by Rs 2,700 in a week

Leaders Online: Gold prices touched a fresh high on the Multi Commodity Exchange (MCX) on Thursday. Gold price for April 2024 delivery on MCX touched Rs 65,400 per 10 grams. Interestingly, gold has become more expensive than Rs 2,700 in the first week of March. (Gold Rate Today)

Gold is rallying in domestic and international markets on hopes that the US Federal Reserve will cut interest rates in June. In the international market, the price of gold on Wednesday touched a high of $2,152 per ounce. Meanwhile, the price of silver is showing a decline.

Meanwhile, the MCX gold contract rose by 3.12 percent or Rs 1,975 on a year-to-date basis till Wednesday.

Meanwhile, the MCX silver price has seen a decline today. Silver rate per kg is Rs 74,015.

The price of gold varies in different parts of the country based on certain parameters like excise duty, making charges and state taxes.

According to the India Bullion and Jewelers Association, the price of pure gold closed at Rs 64,493 per 10 grams yesterday on Wednesday. Silver rate was Rs 71,710 per kg. (Gold Rate Today)

How to recognize pure gold?

24 carat gold is considered the purest 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 will have 585 written on it.

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