look news india
After Buddha Purnima, a tremendous decline has been seen in the bullion market. After continuous rise, as soon as the bullion market opened, the price of gold has fallen by Rs 1100 per 10 grams. If we talk about silver, then its price has come down from the sky to the ground. On Friday, silver became cheaper by Rs 3300 per kg. Along with this, the price of 24 carat 10 grams pure gold in the bullion market on Friday has come down by Rs 1100 to Rs 73560. Whereas on May 23, its price was Rs 74660. Apart from this, if we talk about 22 carat gold, then on Friday its price has come down by Rs 1000 to Rs 67450 per 10 grams. On May 23, its price was Rs 68450.
18 carat gold became cheaper by Rs 810
On Friday, the price of 18 carat gold also fell in the bullion market. As soon as the market opened, the price of 18 carat gold fell by Rs 810 to Rs 55190. Whereas on May 23, its price was Rs 56000. Due to tax and excise duty, the price of gold and silver is fluctuating every day.
Record breaking fall in silver
Silver prices reached a record low on Friday in Purvanchal's largest bullion market. With the opening of the bullion market, silver has become cheaper by Rs 3300 per kg. After which its price has become Rs 92500. Earlier on May 23, its price was Rs 95800.
This is how the price of jewellery is decided
The rate of gold jewellery is decided by adding the price of gold, making charge, hallmark charge and 3% GST. However, some shopkeepers charge 1% of the gold rate as making charge. If the price of 10 grams of gold is Rs 67000, then the making charge will be Rs 670.