India News Get -BusinessGold Price Today (November 16); What is the price of gold and silver today? Economic news
This week, gold and silver prices fell sharply. According to the India Bullion and Jewelers Association (IBJA) website, last Saturday, i.e. November 9, gold was at Rs 77,382, which has now come down to Rs 73,739 per 10 grams (on November 16 ). This means that this week its price has decreased by Rs 3,643.
Whereas, if we talk about silver, it was at Rs 90,859 last Saturday, which has now come down to Rs 87,103 per kg. In this way, its price decreased by Rs 3,756 this week. On October 23, silver had touched an all-time high of Rs 99,151 and on October 30, gold had touched an all-time high of Rs 79,681.
Gold Price in 4 Metros and Bhopal
Delhi: The price of 10 grams of 22 carat gold is Rs 69,500 and the price of 10 grams of 24 carat gold is Rs 75,800. Mumbai: The price of 10 grams of 22 carat gold is Rs 69 350 and the price of 10 grams of 24 carat gold is Rs. 75,650 Kolkata: 10 grams The price of 22 carat gold is Rs 69,350 and The price of 24 carat gold 10 grams is Rs 75 650. Chennai: The price of 10 grams 22 carat gold is Rs 69,350 and the price of 10 grams 24 carat gold is Rs 75,650. Bhopal: The price of 10 grams 22 carat gold is 69,400 and the price of 10 grams of 24 carat gold is Rs 75,650. The price of gold is Rs 75,700.
4 main reasons behind the current drop in gold price
After three months of rising gold, demand has declined due to profits recorded. As a result, its price has fallen Since Donald Trump’s victory in America, the dollar index has increased by 2.36%. The price of US bonds has increased. The demand for gold has decreased due to these two factors. Gold prices have risen due to growing tensions in the Middle East, between Russia and Ukraine, between Israel and Hamas, between Israel and Iran, but no major movement is visible at the moment after Trump’s victory at the federal level. The reserve cut its rates by 0.25%, below expectations. This also reduced the growing demand for gold.
Keep these 3 things in mind when buying gold
1. Buy only certified gold: Always buy certified gold bearing the Bureau of Indian Standards (BIS) mark. There is a 6 digit hallmark code on the gold. This is called the Hallmark Unique Identification Number, i.e. HUID. This number is alphanumeric, that is, something like this – AZ4524. Thanks to hallmarking, it is possible to know the number of carats of gold.
2. Check the price Check the correct weight of gold and its price on the day of purchase from several sources (like the India Bullion and Jewelers Association website). The price of gold varies according to 24 carat, 22 carat and 18 carat. 24-karat gold is considered the purest gold, but it is not used for jewelry because it is very soft.
3. Do not pay in cash, take the bill. While purchasing gold, it is better to make payment through UPI (like BHIM app) and digital banking rather than cash payment. If you wish, you can also make payment by debit or credit card. After that, don’t forget to take the bill. If you order online, definitely check the packaging.