Gold prices have risen today in the bullion market, with the cost of 24-carat gold increasing by Rs 787, now priced at Rs 78,700 per 10 grams. Meanwhile, silver prices have also surged, opening at Rs 87,400 per 10 grams, marking an increase of Rs 2,267. These rates, announced by the Indian Bullion Association (IBA), do not include GST. Depending on the city, there may be a variation of Rs 1,000 to Rs 2,000 in the prices.
Today, the price of 23-carat gold has risen by Rs 783, reaching Rs 75,858 per 10 grams. Similarly, the price of 22-carat gold has increased by Rs 721 to Rs 69,766, while the price of 18-carat gold has gone up by Rs 721 to Rs 57,123. The price of 14-carat gold also saw an increase of Rs 590, now standing at Rs 44,556.
The India Bullion and Jewellers Association (IBJA), a 104-year-old organisation, announces gold prices twice daily, in the afternoon and evening. These rates, which are set based on notifications from the Finance Ministry and the Reserve Bank of India, serve as the benchmark for sovereign issuance and bonds. With offices in 29 states, the IBJA is closely involved with all government agencies.