This week, gold and silver prices have increased. According to data from India Bullion and Jewelers Association (IBJA), last Friday i.e. December 27, 2024, the price of 10 grams of 24 carat gold was Rs 76,436, which became more expensive by Rs 1,068 to Rs 77,504 after a week, i.e. Friday. (January 3, 2025).
Silver prices also rose slightly. On December 27, 1 kg of silver was sold for Rs 87,831. A week later, on January 3, 2025, prices became more expensive by Rs 290 and reached Rs 88,121 per kg. 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 returned 20% and silver returned 17% in 2024.
Last year, between January 1, 2024 and December 31, 2024, the price of gold increased by 20.22%. As on January 1, 2024, the price of 24 carat gold 10 grams was Rs 63,352, which increased by Rs 12,810 to Rs 76,162 in a year.
At the same time, on January 1, one kg of silver was sold at Rs 73,395, the price of which increased by Rs 12,622 to reach Rs 86,017 on the last day of the year. The price of silver increased by 17.19% in one year.
When buying gold, check the purity of the hallmark.
Buying gold is a very expensive affair, so there should be no compromise on quality while purchasing it. To verify this, it is necessary to see the punch. Government brand guarantee determined by Bureau of Indian Standards (BIS).
Here we will tell you how pure the gold you are buying is…
24 karat gold is considered the purest gold. But you can’t make jewelry out of it because it is very soft. Typically, 22 karat gold is used for jewelry, which contains 91.66% gold. Meanwhile, 999 is written on 24 carat gold, 958 on 23 carat gold, 916 on 22 carat gold, 875 on 21 carat gold and 750 on 18 carat gold.
“Karat” gold means 1/24% gold, if your jewelry is 22 carats, divide 22 by 24 and multiply it by 100. (22/24)x100= 91.66 i.e. that the purity of the gold used in your jewelry is 91.66%. Suppose the rate of 24 carat gold is Rs 78,000 per 10 grams and if you are going to buy it from the market then the price of 22 carat gold. gold will be (78,000/24) x22 = Rs 71,500. Similarly, the price of 18 carat gold will also be decided. (78,000/24)x18= Rs 58,500. Purity in carats (in percentage)2499.9%2395.8%2291.6%2187.5%1875.0%1770.8%1458.5%
Always buy only certified gold
Always buy certified gold bearing the Bureau of Indian Standards (BIS) mark. Under the new rule, gold will no longer be sold without a six-digit alphanumeric hallmark from April 1.
Just like there is a 12-digit code on the Aadhaar card, similarly, gold will have a 6-digit brand code. This is called the Hallmark Unique Identification Number, i.e. HUID.
This number can be alphanumeric, that is, something like this – AZ4524. Thanks to hallmarking, it became possible to know the quantity of gold carats.