Commodities become more expensive this week:Gold rises ₹3,487 per unit to ₹1.13 lakh per 10 gm; silver becomes ₹10,100 costlier selling at ₹1.38 lakh per kg

Gold and silver prices increased this week. According to the India Bullion and Jewellers Association (IBJA) website, gold was at ₹1,09,775 last Saturday ie September 20, which has now (September 27) reached ₹1,13,262 per 10 grams. This means its price has increased by ₹3,487 this week. As for silver, it was at ₹1,28,000 last Saturday, which has now reached ₹1,38,100 per kilogram. This is also its all-time high. Thus, its price has increased by ₹10,100 this week. 5 Reasons for Rise in Gold Prices Gold could reach ₹1.55 lakh by next year
According to Goldman Sachs report, the bank has set a major target of $5,000 per ounce for gold by next year. At current exchange rates, this would be approximately ₹1,55,000 per 10 grams in Indian currency. This is significantly higher than the current market price of gold. Keep these 2 things in mind when buying gold 1. Buy only certified gold: Always buy certified gold with Bureau of Indian Standards (BIS) hallmark. Under the new rule, gold cannot be sold without six-digit alphanumeric hallmarking from April 1st. Just like Aadhaar card has a 12-digit code, gold will have a 6-digit hallmark code. This is called Hallmark Unique Identification Number or HUID. This number can be alphanumeric, like this – AZ4524. Through hallmarking, it has become possible to determine how many carats a gold piece 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 India Bullion and Jewellers Association website). The price of gold varies according to 24 carat, 22 carat and 18 carat. 24 carat gold is considered the purest gold, but jewellery is not made from it because it is very soft. Generally, 22 carat or lower-carat gold is used for jewellery.