Gold Silver Rate Today: Gold and silver prices on fire during the wedding season, rates opened with a huge jump

Today may be a mixed day for those buying jewelery during the wedding season. In the bullion markets, today i.e. on May 7, there has once again been a strong rise in the prices of gold and silver. According to the latest data released by India Bullion and Jewelers Association (IBJA), the price of 24 carat gold has increased by Rs 377 per 10 grams. At the same time, silver buyers have got a big shock today, because there is a huge increase of Rs 2,318 per kg in its prices.

Gold becomes expensive, silver also crosses ₹ 2 lakh

According to the latest update, the price of 24 carat gold has increased today. Rs 1,51,237 per 10 grams But has reached. On the other hand, due to industrial demand and global cues, silver rates are now Rs 2,51,385 per kg Have touched the level of. However, compared to the record level, gold is still cheaper by about Rs 24,884 from its all-time high (Rs 1,76,121). Silver prices also remain at a decline of Rs 1,34,545 from their highest level.

New prices of 22 carat and 18 carat gold

The price of 22 carat gold, most commonly used for jewellery, increased by Rs 345 today. Rs 1,38,533 per 10 grams (Without GST). If you add 3% GST to it, its effective price is Rs 1,42,688 Will have to. At the same time, the rate of 18 carat gold increased by Rs 283 today. Rs 1,13,428 per 10 grams which has reached with GST Rs 1,16,830 Will be done.

What is the condition of 14 and 23 carat gold?

Today the price of 23 carat gold increased by Rs 375 in bullion markets. Rs 1,50,631 has reached, which including GST Rs 1,55,149 Will be required. Apart from this, for low budget customers, the price of 14 carat gold has become costlier by Rs 221 today. Rs 88,474 per 10 grams Has occurred. With GST it Rs 91,128 Will meet in.

Why do gold prices increase and decrease?

Gold prices are determined not only in India but also by signals from the international market (LBMA and COMEX). Whenever the rupee weakens against the dollar, gold becomes expensive in India. Additionally, global tensions (such as the Iran–Israel conflict) and inflation rates also affect prices. Slight variation in prices between cities is due to local taxes, transportation charges and jewelers’ making charges.