Gold and silver prices declined this week. According to the India Bullion and Jewellers Association (IBJA), the price of 10 grams of 24 carat gold fell by ₹1,654 to ₹1.56 lakh . Earlier, it was at ₹1.58 lakh last week, i.e., on May 23. Meanwhile, silver has come down from ₹2.66 lakh per kg to ₹2.63 lakh . This means its price decreased by ₹2,650 . Gold Price Journey: From ₹1.76 Lakh to ₹1.56 Lakh Gold showed an upward trend at the beginning of this year, but in the last few weeks it has declined due to profit booking and global factors. Silver Price Crash: From ₹3.86 lakh to ₹2.63 lakh Silver has witnessed more volatility compared to gold. It has come down significantly from its all-time high. Main Reasons for Decline: Trust in ‘Cash’ Instead of Metal Usually, gold and silver prices rise during times of war, but this time the situation is a bit different: Keep these 2 things in mind when buying gold from jewellers 1. Buy only certified gold: Always buy certified gold with the Bureau of Indian Standards (BIS) hallmark. This number can be alphanumeric, something like this – AZ4524. Hallmarking indicates how many carats the 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 (such as the India Bullion and Jewellers Association website). Post navigation RBI may introduce plastic money:Rising cash in circulation, printing expenses cited as main reasons How big an education fund is necessary for child’s future:Advantages disadvantages of education loan; know answer to every question from experts
