The ongoing fire in gold prices now seems to be cooling down a bit. The pace of gold, which is continuously making new records, has suddenly come to a halt. From 18 carat to 24 carat – the price of all types of gold has seen a decline. A little smile has returned on the faces of gold buyers, but on the other hand, silver has surprised everyone. Silver has become brighter and prices are rising like a rocket!
How much did your jewelery become cheaper?
This news is no less than a gift for people who are planning to buy jewelery during the wedding season! Last Saturday, i.e. on 6th December, there was a big stir in the bullion market.
- The price of 24 carat gold, considered the purest, fell to Rs 540 per 10 grams. Now the new price is Rs 1,30,150 per 10 grams.
- 22 carat gold, which is most preferred among common households, also decreased by Rs 500 and now it is trading at Rs 1,19,300 per 10 grams.
- At the same time, the price of 18 carat gold has fallen by Rs 410 to Rs 97,610 per 10 grams.
Roller-coaster journey from Rs 68 thousand to Rs 1.35 lakh in a year!
The last one year has been no less than a roller coaster ride for sleep. In the last 14-16 months, gold has made investors rich, but it has been heavy on the pockets of the common buyer. If we look at the figures, there has been a huge rise of about 80% in the prices of gold during this period. Last year in August, 24 carat gold was only Rs 68,780 per 10 grams, whereas in October this year around Dhanteras, it had touched the historical level of Rs 1 lakh 35 thousand. That means a jump of 70-80% in just one and a quarter year!
Silver took a huge leap – crossed Rs 1.90 lakh!
The most interesting turn of the market was that while gold stopped, silver gained momentum. A huge rise was recorded in the price of silver on Saturday. One kg silver has become costlier by Rs 3,000 and has crossed Rs 1 lakh 90 thousand. Market experts say that silver has overtaken gold in terms of returns in last week’s trading sessions.
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