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Gold and Silver Prices See Major Changes Check Latest Rates
- •Gold and silver prices have been fluctuating throughout the week due to volatile conditions in the international market.
- •According to the India Bullion and Jewellers Association, the price of 24-carat gold rose to Rs 1,49,430 per 10 grams.
- •The price of 22-carat gold increased to Rs 1,36,878 per 10 grams compared to the previous week.
- •The price of 18-carat gold, commonly used for diamond and gemstone jewelry, went up to Rs 1,12,073 per 10 grams.
- •Silver prices also registered an increase, reaching Rs 2,21,109 per kilogram over the week.
Key Questions Answered
According to the India Bullion and Jewellers Association (IBJA), 24-carat gold increased by Rs 1,292 to reach Rs 1,49,430 per 10 grams. Additionally, the price of 10 grams of 22-carat gold rose by Rs 1,180 to Rs 1,36,878, while 18-carat gold increased by Rs 969 to Rs 1,12,073 per 10 grams.
Domestic gold and silver price fluctuations are directly linked to volatile international market conditions, where gold trades around $4,200 per ounce and silver near $60 per ounce. Furthermore, market experts note that with US bond yields hovering near 5 percent and crude oil prices staying above $100 per barrel, precious metals face limitations in gaining significant upward momentum.
Due to the massive surge in gold prices over the past few years, many people are shifting toward lower-carat jewelry options such as 18-carat and 9-carat gold. Because 18-carat gold contains a higher proportion of other metals and alloy content compared to 22-carat, its price is considerably lower, making it typically ideal for diamond and gemstone-set jewelry.
