Vikrant Shekhawat : Oct 21, 2024, 12:37 PM
Gold Price Today: On October 21, gold and silver reached their highest level ever and set a new record. According to the data of India Bullion and Jewelers Association (IBJA), the price of 10 grams of 24 carat gold has increased by Rs 558 to Rs 77,968. A day earlier it was Rs 77,410 per 10 grams. Similarly, the price of silver also jumped sharply, where its price increased by Rs 4,884 to Rs 97,167 per kg. Earlier, silver was at Rs 92,283 per kg. It is worth noting that on May 29, silver touched the highest level of Rs 94,280 per kg, which has reached even higher today. Gold Prices by CaratGold prices vary depending on the carat, and today's figures are as follows:24 carat: ₹77,968 per 10 grams22 carat: ₹70,836 per 10 grams18 carat: ₹57,999 per 10 gramsGold prices in major citiesGold prices in India's four major metros and Bhopal are also reflecting the same trend. The figures below are city-wise gold prices (for 22 carat and 24 carat gold):Delhi: ₹73,150 for 22 carat and ₹79,790 for 24 carat per 10 gramsMumbai: ₹73,000 for 22 carat and ₹79,640 for 24 carat per 10 gramsKolkata: ₹73,000 for 22 carat and ₹79,640 for 24 carat per 10 gramsChennai: ₹73,000 for 22 carat and ₹79,640 for 24 carat per 10 gramsBhopal: ₹73,050 for 22 carat and ₹79,690 per 10 grams for 24 carat 10 gramsRising gold and silver prices in 2024Since the beginning of this year, the prices of both gold and silver have seen a tremendous increase. On January 1, 2024, the price of 10 grams of gold was ₹ 63,352, while today, on October 21, 2024, it has increased to ₹ 77,968 per 10 grams. Silver prices also rose significantly during the same period—it was ₹ 73,395 per kg on January 1, which has reached ₹ 97,167 per kg today.What could be the prices by the end of the year?According to Anuj Gupta, Head of Commodity and Currency, HDFC Securities, gold and silver prices are likely to increase further in the coming days. Global geopolitical tensions and the beginning of the festive season have increased the demand for gold, supporting its prices. By the end of this year, the price of gold can go up to Rs 79,000 per 10 grams, while the price of silver is expected to reach Rs 1 lakh per kg.Advice to buy certified goldAn important advice while buying gold is to always buy certified gold hallmarked by the Bureau of Indian Standards (BIS). The gold hallmark has a unique 6-digit code, called the Hallmark Unique Identification Number (HUID). This code is alphanumeric, such as AZ4524. This hallmarking can ensure how many carats the gold is and what is its purity. It is a symbol of security and trust for the consumer.ConclusionGold and silver prices are constantly reaching new heights, which is an important sign for both investors and consumers. The festive season and geopolitical conditions are playing an important role in promoting the prices of gold and silver. Investors are looking at this as a good opportunity, while consumers should choose certified gold while purchasing so that they can get full guarantee of purity and quality.