Gold Silver Price: Huge fluctuations in the prices of gold and silver, know the new rates before purchasing.

Gold Silver Price: There has been tremendous fluctuation in the prices of gold and silver in the last one week. If you are planning to buy gold or silver, then it is very important to know the latest rates. While the price of gold has declined in the domestic market in the last five trading days, there has been a slight rise in its futures price on MCX. On the other hand, silver prices have seen major changes in both the domestic and futures markets.

Gold becomes cheaper in domestic market
According to the data of Indian Bullion Jewelers Association (IBJA), a decline in gold prices was recorded in the domestic market last week. When the market closed on December 12, 24 carat gold was Rs 1,32,710 per 10 grams, which fell to Rs 1,31,779 per 10 grams on December 19. That means, within a week, gold became cheaper by Rs 931 per 10 grams.

Slight rise on MCX
There was a slight increase in the futures price of gold on Multi Commodity Exchange (MCX). Gold futures with expiry on February 5 were at Rs 1,33,622 per 10 grams on December 12, which increased to Rs 1,34,206 on December 19. In this way gold became costlier by Rs 584 on MCX.

Latest rates of gold of different carats (per 10 grams):

• 24 carat gold: Rs 1,31,779

• 22 carat gold: Rs 1,28,620

• 20 carat gold: Rs 1,17,280

• 18 carat gold: Rs 1,06,740

• 14 carat gold: Rs 85,000

Silver broke records
There was a tremendous rise in silver compared to gold last week. Silver price on MCX crossed the level of Rs 2 lakh per kg, breaking all old records. On December 12, the futures price of silver was Rs 1,92,851 per kg, which, despite a slight fall on December 19, closed at Rs 2,08,000 per kg. In this way, the price of silver increased by about Rs 15,149 per kg in a week.

Silver prices have also increased rapidly in the domestic market. According to IBJA, on December 12, silver was Rs 1,95,180 per kg, which has now increased to around Rs 2,00,067 per kg.

Keep this in mind while buying jewellery.
The rates of gold and silver issued by IBJA are uniform across the country. However, when you go to the shop to buy jewellery, GST and making charges are added to these prices. Making charges can vary according to city, state and design, which increases the final price.