Gold Price Today / Gold reaches record high of ₹ 78,703, has become costlier by ₹ 3,506 so far this month

Gold and silver reached their historic highest levels on October 23. The price of 24 carat gold has reached Rs 78,703 per 10 grams, while silver is being sold at Rs 99,151 per kg. Gold has become costlier by Rs 3,506 this month. There is a possibility of further increase in the coming days.

Vikrant Shekhawat : Oct 23, 2024, 03:40 PM

Gold Price Today: Gold and silver have touched new highs in the Indian markets on October 23. According to data from the India Bullion and Jewelers Association (IBJA), the price of 10 grams of 24 carat gold rose by Rs 452, with which it reached Rs 78,703. A day earlier, i.e. on October 22, the price of gold was Rs 78,251 per 10 grams.

Silver prices also jumped

Silver prices also saw a rise, rising by Rs 779 to Rs 99,151 per kg. Earlier, the price of silver was Rs 98,372. Both gold and silver have continuously set new records since the beginning of this month, creating an atmosphere of concern and curiosity among investors and consumers.

Increase since last month

At the end of September, the price of gold was Rs 75,197 per 10 grams, but so far it has become costlier by Rs 3,506. This rise has been driven by a number of factors, including the global economic situation, geopolitical tensions, and the onset of the festive season.

Gold prices in major cities

The following are the gold prices in different metros:

Delhi: Price of 10 grams of 22-carat gold is Rs 73,550, price of 24-carat gold is Rs 80,220.
Mumbai: Price of 10 grams of 22-carat gold is Rs 73,400, price of 24-carat gold is Rs 80,070.
Kolkata: Price of 10 grams of 22-carat gold is Rs 73,400, price of 24-carat gold is Rs 80,070.
Chennai: Price of 10 grams of 22-carat gold is Rs 73,400, price of 24-carat gold is Rs 80,070.
Bhopal: 10 grams of 22 carat gold price is Rs 73,450, 24 carat gold price is Rs 80,120.

Future prospects

According to Anuj Gupta, commodity and currency head of HDFC Securities, geopolitical tensions and the onset of the festive season are leading to an increase in the demand for gold. He predicts that this year the price of gold can go up to Rs 79,000 per 10 grams, while the price of silver can also reach Rs 1,00,000 per kg.

Buy certified gold

When buying gold, consumers are always advised to buy certified gold with the hallmark of Bureau of Indian Standards (BIS). Gold has a 6-digit hallmark code, called Hallmark Unique Identification Number (HUID). This code confirms the quality of gold and helps consumers to know how many carats the gold is.

Conclusion

The rising prices of gold and silver are not only a matter of concern for investors but also a sign of inflation for common consumers. Currently, with the demand for gold and silver increasing, it is also important that consumers choose certified products with accurate information. It will be necessary for investors to keep an eye on the prices of gold and silver in the coming days.