Gold reached ₹ 61 thousand: Silver also crossed ₹ 73 thousand, see the price of gold according to carat
Today i.e. on 17th November, there has been a rise in the prices of gold and silver. According to the website of India Bullion and Jewelers Association (IBJA), the price of 24 carat gold in the bullion market has increased by Rs 473 to Rs 60,978 per 10 grams. Silver has also increased by Rs 355 today to reach Rs 73,210 per kg.
So far this month, there has been a slight increase in the prices of gold and silver. On November 1, the price of gold was Rs 60,896, which has now reached Rs 60,978 per 10 grams. The price of silver has increased by Rs 2,385 so far this month. It was at Rs 70,825 on the first day of November, which has now reached Rs 73,210 per 10 grams.
1. Buy only certified gold:
Always buy certified gold with the hallmark of Bureau of Indian Standards (BIS). Just as there is a 12 digit code on the Aadhaar card, similarly gold has a 6 digit hallmark code. This is called Hallmark Unique Identification Number i.e. HUID.
This number can be alphanumeric i.e. something like this – AZ4524. Through hallmarking, it has become possible to find out how many carats of gold is.
2. Cross check the price
Cross check the correct weight of gold and its price on the day of purchase from multiple sources (like the website of India Bullion and Jewelers Association). The price of gold varies according to 24 carat, 22 carat and 18 carat.
24 carat gold is considered to be the purest gold, but jewelery is not made from it because it is very soft. Generally 22 carat or less gold is used for jewellery.
Check the price according to carat like this: Suppose the price of 24 carat gold is Rs 60 thousand per 10 grams. That means the price of one gram of gold was Rs 6000. In such a situation, the price of 1 gram gold of 1 carat purity was 6000/24 i.e. 250 rupees.
Now suppose your jewelery is made of 18 carat pure gold, then its price is 18×250 i.e. Rs 4,500 per gram. Now the exact price of gold can be calculated by multiplying the number of grams of your jewelery by Rs 4,500.
3. Do not pay in cash, take bills.
While buying gold, it is better to pay through UPI and digital banking instead of cash payment. If you want, you can also make payment through debit or credit card. After this don’t forget to take the bill. If ordering online then definitely check the packaging.
4. Know the reselling policy:
Many people see gold as an investment. In such a situation, it is important that you have complete information about the resale value of gold. Also, discuss with the store employees about the buyback policy of the concerned jeweler
