Gold crossed ₹ 73 thousand for the first time: Price increased by ₹ 9,872 in the year 2024, silver reached ₹ 83 thousand per kg.

Gold crossed ₹ 73 thousand for the first time: Price increased by ₹ 9,872 in the year 2024, silver reached ₹ 83 thousand per kg.

For the first time, the price of gold has exceeded Rs 73 thousand per ten grams. According to the website of India Bullion and Jewelers Association (IBJA) on Friday (April 12), 10 grams of gold became costlier by Rs 1,351 to Rs 73,174. Silver has also reached its new all-time high today. The price of one kg silver has increased by Rs 1,476 to Rs 83,819. According to experts, there may be a further increase in their prices in the coming days. Earlier on Wednesday also, the prices of gold and silver had reached all-time high. On Wednesday (April 10), the price of gold was Rs 71,823 per 10 grams and the price of silver was Rs 82,343 per kg. So far in the year 2024, the price of gold has increased by Rs 9,872. On January 1, gold was at Rs 63,302. At the same time, silver was also Rs 73,395 per kg. Gold can reach Rs 75 thousand and silver can reach Rs 1 lakh. According to market experts, a rise in gold prices may be seen in the coming days. Due to this, by the end of this year, gold can go up to Rs 75 thousand per 10 grams. Brokerage firm Motilal Oswal estimates that silver will see a rise in the next few months. The brokerage firm said in a report that we recommend investing in silver and in the medium to long term it can reach Rs 92,000 and then Rs 1 lakh. The firm has advised further investment on further losses towards Rs 75,000. Gold had become costlier by more than 8 thousand rupees in 2023. At the beginning of the year 2023, gold was at Rs 54,867 per gram, which reached Rs 63,246 per gram on 31 December. That means in the year 2023, its price increased by Rs 8,379 (16%). At the same time, silver also increased from Rs 68,092 to Rs 73,395 per kg. Gold is at a record high in the international market too. Gold is at a record high in the international market too, on Comex, gold has reached a new lifetime high of $ 2,412 per ounce. Amid the two consecutive months of rising gold prices, gold has become stronger by more than 7% so far in April. Gold prices rise due to rising inflation in America. US retail inflation data came out on Wednesday, US retail inflation increased by 0.4% in March, which was much higher than market expectations. In such a situation, the expectation of interest rate cut by the Federal Reserve in June has also reduced, due to which gold prices are getting support. Therefore, a record rise in gold prices is being seen in the domestic and international markets. On the other hand, America’s Producer Price Index (PPI) has increased less than expected. Its effect is also supporting gold. Keep these 4 things in mind while buying gold. 1. Buy only certified gold. Always buy certified gold bearing the hallmark of Bureau of Indian Standards (BIS). Under the new rule, gold will not be sold without six-digit alphanumeric hallmarking from April 1. Just as there is a 12 digit code on the Aadhaar card, similarly gold will have a 6 digit hallmark code. This is called Hallmark Unique Identification Number i.e. HUID. This number can be alphanumeric i.e. something like this – AZ4524. Through hallmarking, it has become possible to find out how many carats of gold is. 2. Cross check the price Cross check the correct weight of gold and its price on the day of purchase from multiple sources (like the website of India Bullion and Jewelers Association). The price of gold varies according to 24 carat, 22 carat and 18 carat. 24 carat gold is considered the purest gold, but jewelery is not made from it because it is very soft. Generally 22 carat or less carat gold is used for jewellery. Check the price according to carat like this: Suppose the price of 24 carat gold is Rs 60 thousand per 10 grams. That means the price of one gram of gold was Rs 6000. In such a situation, the price of 1 gram gold of 1 carat purity was 6000/24 ​​i.e. 250 rupees. Now suppose your jewelery is made of 18 carat pure gold, then its price is 18×250 i.e. Rs 4,500 per gram. Now the exact price of gold can be calculated by multiplying the number of grams of your jewelery by Rs 4,500. 3. Do not pay in cash, take bill. Paying in cash while buying gold can prove to be a big mistake. It is good to make payment through UPI (like BHIM app) and digital banking. If you want, you can also make payment through debit or credit card. After this don’t forget to take the bill. If ordering online then definitely check the packaging. 4. Know the reselling policy: Many people see gold as an investment. In such a situation, it is important that you have complete information about the resale value of gold. Also, discuss with the store employees about the buyback policy of the concerned jeweler.

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