look news india
Due to the festive season and weddings, gold and silver prices are witnessing a record increase. Retail prices have reached historic highs. However, today on Thursday, October 24, the prices of gold and silver in the futures market fell below the record high. Because, prices slipped due to profit booking. In the international market, gold on Comex slipped almost $ 40 to reach an intraday record of $ 2,772. Whereas in the local market there was a decrease of Rs 800. Silver also fell by Rs 2900.
According to the information, due to various reasons like seasonal demand in the country and conflict in West Asia, the price of silver on the spot market and MCX has fluctuated. Gold and silver prices fell by seven per cent in the domestic market after the government cut customs duty on gold and other metals in July. However, expectations of interest rate cuts due to the ongoing festive season in America and increased demand from Indian consumers due to war-like situation have boosted the bullion market.
Gold and silver prices reached a new record high in the bullion market of the country's capital Delhi on Wednesday for the sixth consecutive trading session. The main reason for this is the demand of festivals and wedding season. All India Bullion Association gave this information.
Gold rose by Rs 500 to hit an all-time high of Rs 81,500 per 10 grams, while silver rose by Rs 1,000 to Rs 1.02 lakh per kg. Gold of 99.9 per cent and 99.5 per cent purity rose by Rs 500 each to Rs 81,500 per 10 gram and Rs 81,100 per 10 gram, respectively.
Silver rose by Rs 1,000 to hit a new high of Rs 1.02 lakh per kg, which closed at Rs 1.01 lakh per kg on Tuesday. The price of silver has increased by Rs 10,000 in the last six trading sessions. From October 16 till now, gold has increased by Rs 2,850 per 10 grams.
What is the difference between 22 and 24 carat gold?
24 carat gold is 99.9 percent pure and 22 carat gold is approximately 91 percent pure. Jewelery is made by mixing 22 carat gold with 9 percent other metals like copper, silver and zinc. Whereas 24 carat gold is shiny. But jewelery cannot be made from it. Therefore most traders are selling 22 carat gold.
Know the price by missed call
To know the retail rate of 22 carat and 18 carat gold jewellery, you can give a missed call on mobile number-8955664433. The new prices will be available via SMS within a few minutes. Apart from this, you can visit www.ibja.co or ibjarate.com for continuous updates.