Gold Rate Update: Prices of yellow metal move up, silver goes down; check current rates in your city here just before Karwa Chauth

Gold Rate Update: For forthcoming celebrations like Diwali and Karwa Chauth, people purchase gold or silver jewellery for their loved ones. However, the cost of these metals is rising steadily this time. Despite the widespread availability of digital gold in today’s markets, physical gold retains its allure.However, buying gold may be a difficult venture that requires careful consideration of several factors. In India, the cost of 22-karat gold is currently Rs 5,670 per gram, whereas the cost of 24-karat gold is Rs 6,185 per gram.

Know about the 22 and 24 carat gold

At 24 carats, gold is thought to be at its purest. There is no other metal present in pure gold, often known as 24 carat gold, which denotes 99.9 percent purity. Coins, bars, and other items made of 24 carat gold are produced. There are various purities of gold as well, all of which are comparable to 24 carats. For crafting jewellery, 22 carat pure gold is perfect. 22 parts gold and 2 parts silver, nickel, or any other metal make up this mixture. Gold becomes more rigid and suitable for jewellery when combined with other metals. 91.67 percent gold purity is commonly reflected in 22 carat gold.

Gold Rate Update: Price of gold in some major cities

Gold Rate Update: On MCX

One of the numerous factors influencing the price of gold and silver in India is the rupee’s value in relation to the US dollar. The global demand for precious metals has a significant impact on fluctuations in their price. Gold futures with a December 5, 2023, maturity date were trading at Rs 61300 per 10 grams on the MCX, up barely 0.03 percent. Silver futures, which mature on December 5, 2023, had a price decline of 0.29% and were trading at Rs 72543 per kg on the MCX.

Disclaimer: (This information is provided solely for informational purposes. It is important to note that investing in the market or a business idea involves market risks. Before investing money as an investor/ owner/ partner, always consult an expert. DNP News Network Private Limited never advises to invest money on stocks or any specific business idea. We will not be liable for any financial losses.)

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