Gold and Silver Prices Increase This Week: The past week witnessed a rise in the prices of gold and silver. According to data from the India Bullion and Jewellers Association (IBJA), the price of 10 grams of 24-carat gold on Friday, December 27, 2024, was ₹76,436. A week later, on Friday, January 3, 2025, the price surged by ₹1,068, reaching ₹77,504.
Silver also saw a modest price increase. On December 27, one kilogram of silver was priced at ₹87,831, which rose by ₹290 to ₹88,121 on January 3, 2025. Notably, silver had hit its all-time high of ₹99,151 on October 23, and gold peaked at ₹79,681 on October 30.
Gold and Silver Prices Increase This Week
Gold and Silver Performance in 2024: 20% and 17% Returns
In 2024, gold delivered a strong return of 20.22%. On January 1, 2024, the price of 10 grams of 24-carat gold stood at ₹63,352. By December 31, 2024, it had increased by ₹12,810, reaching ₹76,162.
Similarly, silver saw a 17.19% rise in its price. On January 1, 2024, the price of one kilogram of silver was ₹73,395, which climbed by ₹12,622 to ₹86,017 by the end of the year.
How to Ensure Purity While Buying Gold
Gold is a significant investment, and quality assurance is crucial when purchasing it. Always check for hallmarking, which is a government certification of purity provided by the Bureau of Indian Standards (BIS).
Understanding Gold Purity:
- 24-carat gold: The purest form of gold but too soft for jewelry.
- 22-carat gold: Commonly used for jewelry, containing 91.66% gold.
Here’s how to interpret the carat markings:
- 24K (999): 99.9% pure gold.
- 22K (916): 91.6% pure gold.
- 18K (750): 75.0% pure gold.
To calculate the gold’s purity:
- For 22-carat gold: 2224×100=91.66%\frac{22}{24} \times 100 = 91.66\%2422×100=91.66% purity.
- If 24-carat gold is priced at ₹78,000 per 10 grams, the price of 22-carat gold will be:
78,00024×22=₹71,500\frac{78,000}{24} \times 22 = ₹71,5002478,000×22=₹71,500. - Similarly, 18-carat gold will cost:
78,00024×18=₹58,500\frac{78,000}{24} \times 18 = ₹58,5002478,000×18=₹58,500.
Also Read: GOLD LOAN :चूक न जाना EMI, भुगतने होंगे गंभीर नतीजे… जानिए इससे बचने के तरीके!
| Carat | Purity (%) |
|---|---|
| 24 | 99.9% |
| 22 | 91.6% |
| 18 | 75.0% |
| 14 | 58.5% |
Always Buy Certified Gold
It is advisable to purchase only BIS-certified gold with a hallmark. As per new regulations effective April 1, gold must feature a six-digit alphanumeric hallmark code, called the Hallmark Unique Identification Number (HUID).
This unique code, similar to an Aadhaar number, ensures the authenticity and carat value of the gold. For example, a code like “AZ4524” can confirm the gold’s purity and compliance with BIS standards.
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