Last Updated on 29/08/2024 by Ankita
In India, there has been a big fluctuation in the gold prices in the last few days. After the announcement of reduction in custom duty on gold and silver in the first budget of Modi 3.0, the gold rate fell sharply, but after falling to around Rs 67000, it again rose to cross 70,000 in August. Talking about Wednesday, the price of gold on the Multi Commodity Exchange suddenly fell by Rs 478, while its price has also decreased on Thursday. On the other hand, if we talk about Pakistan, then the gold price has reached a record level here.
Prices fell from MCX to the domestic market
First of all, let’s talk about the price of gold in India on Wednesday, so its price on the Multi Commodity Exchange i.e. MCX has come down by Rs 478 and the price of future gold expiring on October 4 has come down to Rs 71,644 per 10 grams. During trading, it had reached the level of Rs 72,075, but then it started falling. On Thursday also, the price of gold on MCX has fallen. The price of gold has also come down in the domestic market. If we look at the prices on the website of IBJA…
Quality 27 August 28 August
24 carat gold Rs 71,762/10 gram Rs 71,690/10 gram
22 carat gold Rs 71,475/10 gram Rs 69,970/10 gram
20 carat gold Rs 65,734/10 gram Rs 63,810/10 gram
The price of 10 grams of gold in Pakistan will shock you
On one hand, the price of gold in India (Gold Rate in India) is seen trading between 70-72 thousand rupees per 10 grams, on the other hand, the price of gold (Gold Price in Pakistan) is running at a high level in neighboring country Pakistan. According to Gold Dot PK, on Wednesday, the price of 10 grams of 24 carat gold in Pakistan’s capital Karachi reached 2,28,270.40 PKR (Pakistani Rupee). The price of one tola gold there is Rs 2,66,250.
Price above 2 lakh but still cheaper than India
Even though the gold rate in Pakistan has crossed Rs 2 lakh per 10 grams, if calculated on the basis of Indian currency, gold is still available much cheaper in Pakistan than in India. Actually, the price of 1 Pakistani rupee is equal to 0.3008 Indian rupees. According to this, 2,28,270 Pakistani rupees are equal to Rs 68,654 of India. If calculated according to this, the price of 24 carat 10 grams gold in Pakistan is still Rs 3036 less than the price of gold in the Indian domestic market.
Which gold is used more in jewelry
Before buying gold, keep some special things in mind, such as identifying its quality. Let us tell you that mostly 22 carat gold is used to make jewellery, while some people also use 18 carat gold. Hall mark is marked on the jewellery according to the carat. 999 is written on 24 carat gold jewellery, while 958 is written on 23 carat, 916 on 22 carat, 875 on 21 carat and 750 on 18 carat. Talking about prices, the price of gold jewellery across the country keeps changing due to excise duty, state taxes and making charges.
Source (PTI) (NDTV) (HINDUSTANTIMES)