Rise in gold and silver prices: Know today's latest price and importance of carat.

Today, a rise in the prices of gold and silver has been recorded in the bullion markets.

• 24 carat gold became costlier by ₹ 299 today and opened at an average rate of ₹ 76,635 per 10 grams.
• There has also been a rise in the price of silver, which has increased by ₹ 394 to ₹ 88,434 per kg.
  These rates have been issued by IBA (Indian Bullion Association), which do not include GST. Note that prices may vary by ₹1,000 to ₹2,000 in your city.

Latest gold prices in different carats

Gold prices vary depending on carat. Today's latest prices are as follows:

• 23 carat gold: up by ₹298 to ₹76,328 per 10 grams.
• 22 carat gold: Costlier by ₹274 to ₹70,198 per 10 grams.
• 18 carat gold: rose by ₹175 to ₹57,476 per 10 grams.
• 14 carat gold: up ₹10 to ₹44,437 per 10 grams.

Know the importance of spot price while buying gold

Gold prices in the bullion market are based on the spot price.

• This is the price at which gold is traded in the market.
• Members of bullion associations of different cities decide the prices when the market opens.
• Making charges and GST are added separately to the prices of jewellery.

How to know the price of 22 carat gold?

If you need to estimate the price of 22 karat gold, do this simple calculation:

1. Divide the price of 24 carat gold by 24.
2. Then multiply that by 22.
   For example: If the price of 24 carat gold is ₹76,635, then the price of 22 carat will be:
   $(76,635÷24)\times 22=₹70,198Per10Gram.$

What is the specialty of 24 carat gold?

• 24 karat gold is considered the purest, containing 99.9% gold.
• It is very soft and cannot be used to make jewellery.
• If a jeweler claims to be offering 24 karat gold jewellery, be cautious—this is not possible.

carats used in making jewelery

Generally 14 to 22 carat gold is used to make jewelery and other items.

• 22 karat gold contains approximately 91.6% pure gold.
• To make it stronger, metals like silver, copper, and zinc are added to it.
• Always remember to check the carat and hallmark while buying jewellery.