On January 1, gold prices rose in the bullion market. Today, Wednesday, the average price of 24-carat gold increased by Rs 372 to Rs 76,534 per 10 grams, while silver fell by Rs 117, opening at Rs 85,900, as announced by IBJN. Note that these rates exclude GST and may vary by Rs 1,000 to 2,000 depending on your city.
Despite today's increase, gold is still Rs 3,147 cheaper and silver Rs 12,440 lower than their all-time highs. The average prices for other gold purities are as follows: 23-carat gold rose by Rs 371 to Rs 76,228, 22-carat gold by Rs 341 to Rs 70,105, 18-carat gold by Rs 279 to Rs 57,401, and 14-carat gold by Rs 217 to Rs 44,772. Keep these prices in mind when purchasing.
Before buying, check the current prices on the Indian Bullion and Jewelers Association website (https://www.ibja.co/), as prices for 24-carat, 22-carat, and 18-carat gold differ. Pay attention to the weight of the jewelry, as even slight variations can significantly affect the price. Request a certificate from the jeweler for assurance.
Always obtain a detailed bill when purchasing hallmarked gold. The bill should include a description of each item, net weight, purity in carats, and hallmarking fee. Discuss making charges with the jeweler, as there are no government regulations on these fees, which can range from 2% to 20%. Engaging in this discussion may lead to a small discount.