Gold Price Today: There was a break in the fall in gold, prices of both 24 and 22 carat increased on Dussehra, know the latest rates of your city here.

On the auspicious occasion of Vijayadashami i.e. Dussehra, there has been a sudden break in the sluggishness and fall in gold prices that had been going on for the last few days in the bullion markets. A spectacular recovery has been recorded in gold prices on Tuesday due to strong demand for the festive and wedding season in the domestic and foreign bullion markets. There has been a rise in the prices of both 24 carat pure gold and 22 carat gold, which is most used in making jewellery. Along with this, silver prices are also showing strength on the basis of industrial and retail demand.

The softness that was seen in the third week of October due to profit-booking on the international market COMEX has turned into a bullish trend due to the return of buyers on the festival day. In Indian culture, purchasing new resolutions, vehicles, property and gold jewelery on Vijayadashami is considered extremely auspicious and prosperous. This surge, which came just before Dhanteras and Diwali, has added to the excitement on the faces of both jewelers and retail buyers. Let us know what are the latest prices of 24, 22 and 18 carat gold today in the big cities of the country including the national capital Delhi, Uttar Pradesh capital Lucknow, Mumbai and Kolkata.

According to bullion experts, mainly three major reasons are behind today's rise in gold prices:

1. Dussehra and Pre-Diwali Retail Shopping: At the end of Navratri and the auspicious time of Vijayadashami, huge movement of customers has started in big jewelery showrooms across the country (like Tanishq, Kalyan Jewellers, Malabar Gold etc.). Families have intensified advance booking of jewelery for the upcoming wedding season.

2. Rebound from lower levels internationally: Gold has bounced back rapidly with strong technical support of $ 4,130 an ounce in the global markets. Geopolitical uncertainty and continued purchases of gold in foreign exchange reserves by central banks of various countries are providing a strong safety net to bullion.

3. Impact of weak rupee: Landing cost of imported gold has remained high due to limited trading volume in the Indian rupee against the US dollar, which has provided direct support to prices in the domestic spot markets.

An upward trend in prices is being seen in the major bullion markets of the national capital Delhi and Uttar Pradesh since this morning:

1. Gold Rates in New Delhi:

• 24 Carat Pure Gold (999 Fine Gold): About ₹1,45,650 per 10 grams, which has registered an increase of ₹ 450 to ₹ 600 per 10 grams from the previous trading level.

• 22 Carat Jewelry Gold (916 Gold): Price of 22 carat gold increased in Delhi today ₹1,33,520 It is recorded per 10 grams.

• 18 karat gold: 18 carat gold for lightweight and trendy jewelery today ₹1,09,250 Trading around Rs 10 per gram.

2. Gold Rates in Lucknow (Uttar Pradesh):

• 24 karat pure gold: 24 carat gold today in Aminabad, Chowk and Hazratganj bullion markets of Lucknow, the city of Nawabs. ₹1,45,800 Has stabilized at the level of per 10 grams.

• 22 carat jewelery gold: Retail price of 22 carat gold in Lucknow ₹1,33,650 It is available per 10 grams.

• 18 karat gold: 18 carat gold price in the capital ₹1,09,350 Per 10 grams.

The official retail prices of 24 carat and 22 carat gold today in various metros of the country based on local bullion associations and tax structure are as follows:

(Note: The prices given above are the base prices declared by the local bullion associations. 3% GST and jeweler's making charge are additionally added to these rates when purchasing jewellery.)

Along with gold, the price of silver has also regained strength. In the domestic market, silver is maintaining a strong hold in the range of ₹1,72,500 to ₹1,75,000 per kg. Due to demand pressure in Chennai and southern states, silver is seen touching the level of ₹ 1,80,000 per kg. Silver has extremely strong fundamentals due to its heavy consumption in electric vehicles (EVs), solar photovoltaic cells, and advanced semiconductor chips, leading to large institutional investors being quick to buy in on any dips in prices.

It is most important to understand the standards of purity while buying jewelery during the festive season:

• 24 Carat (99.9% pure): This is the purest form of gold. It is extremely flexible and soft, so it cannot be used directly in making jewellery. 24 karat is used to make gold biscuits, coins and investment bars.

• 22 carat (91.6% pure): 22 carat gold is considered standard for making Indian traditional jewellery. It contains 91.6% pure gold and 8.4% other strong metals (like copper, silver or zinc), which gives strength and durability to the jewellery.

• 18 carat (75.0% pure): It contains 75% gold and 25% alloys. 18 carat is used for diamond jewellery, polki and modern western designs as it provides stronger grip to the stones.

If you are planning to buy gold jewelery today or in the coming days, then follow these statutory rules to avoid fraud:

1. 6 Digit Alphanumeric HUID Hallmark: According to Indian Government rules, it is illegal to sell gold without a 6-digit HUID (Hallmark Unique Identification) code from April 1, 2023. Make sure to check the BIS triangle logo, purity grade (like 22K916) and unique 6 digit laser code on the jewellery.

2. Verification on 'BIS CARE' Mobile App: Download 'BIS Care' app of Bureau of Indian Standards on your smartphone. Go to 'Verify HUID' option in the app and enter the 6 digit code printed on the jewellery. The jeweler's name, registration number and date of hallmarking will immediately appear on the screen.

3. Get confirmed GST bill: Always ask for a detailed bill from the jeweller, which clearly mentions the total weight of gold, making charges, 3% GST and HUID number. Taking raw bill may cause difficulty in getting the full value of purity when exchanging or selling the jewelery in future.