There has been a lot of volatility in the prices of gold in the last two months. Earlier, on 23 July 2024, during the presentation of the first general budget of Modi 3.0, the price of gold collapsed due to the announcement of reduction in custom duty on gold and silver, while in the month of August it was seen flying once again. At the same time, during the last one week in the month of September, there has been a change in the prices of the yellow metal. Let us know whether gold has become expensive or cheaper in a week…
Gold became cheaper on MCX in a week
First of all, let us talk about the change in gold prices on the Multi Commodity Exchange in a week, so let us tell you that the rate of future gold expiring on 4 October on MCX has come down in a week. On 2 September 2024, the price was Rs 71,601 per 10 grams, while on the last trading day of the week, last Friday, it came down to Rs 71,460 per 10 grams. However, during this period it went up to a high of Rs 72,235. Let us tell you that after the custom duty was reduced from 15 percent to 6 percent in the budget, the gold rate had broken down to around 67,000.
Gold rate increased so much in the domestic market
Now talking about the domestic market, there has been a lot of fluctuation in the price of gold in a week. According to the website of India Bullion and Jewelers Association (IBJA), the yellow metal has become expensive in a week. On September 2, the price of 10 grams of 24 carat gold was Rs 71,511 per 10 grams, but on September 6, the gold rate increased to Rs 71,930 per 10 grams. If we look at the price of other quality gold…
Quality Price (Plus 3% GST+Making Charges)
22 carat Rs.70200/10 gm
20 carat Rs.64020/10 gram
18 carat Rs.58260/10 gm
14 carat Rs. 46400/10 gm
This is how the price of gold changed in a week
If we look at the changes in the price of gold in a week, the price of 10 grams of 24 carat gold of 999 purity has increased and sometimes decreased between 2 and 6 September 2024. According to IBJA, the price of 10 grams on September 2 was Rs 71,511 and on September 3 it came down to Rs 71,494. After this, on September 4, it fell further to Rs 71,295 and on September 5 also its price remained the same, while on September 6, 2024, 10 grams of 24 carat gold reached Rs 71,930.
Keep in mind here that the making charge on gold jewellery varies and due to this its price may vary in different cities. It is worth noting that the rates published on the IBJA website are the same across the country, but these Gold Rates are in addition to the tax and making charge levied on the jewellery, which may change its price.
Check the purity of gold like this
It is very important to check the purity of gold before buying it. The purity of gold is measured in carats and 24 carat gold is considered the purest. Here, let us tell you that mostly 22 carat is used to make jewellery. Some people also use 18 carat gold. The jewellery has a hall mark 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.
Know the price of gold in your city easily
You can also check the price of gold and silver through a missed call. For this you have to call on the number given below 8955664433. Shortly after the missed call, you will get to know the rates through SMS. Apart from this, you can also check the rates by visiting the official website ibjarates.com.
Source (PTI) (NDTV) (HINDUSTANTIMES)