Gold and silver prices saw an increase today, October 27. According to the India Bullion and Jewelers Association (IBJA), the price of gold increased by ₹884, reaching ₹1,22,402. Previously, its price was ₹1,21,508 per 10 grams. Meanwhile, silver saw an increase of ₹997, reaching ₹1,48,030 per kilogram. Yesterday, its price was ₹1,47,033 per kilogram. IBJA’s gold prices do not include 3% GST, making charges, and jeweler’s margin. Therefore, city rates differ from these. These rates are used by the RBI to determine the rates for Sovereign Gold Bonds. Many banks use it to determine gold loan rates. Gold was cheaper by ₹9,356 last week The price of gold had decreased by ₹9,356 last week to ₹1,21,518 per 10 grams. On October 18, its price had reached its all-time high of ₹1,30,874. Meanwhile, silver had fallen from ₹1,69,230 per kg to ₹1,47,033. This year, gold increased by ₹46,240 and silver by ₹62,013 Keep these 2 things in mind when buying gold 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 the caratage of the gold. 2. Cross-check the price: Cross-check the correct weight of the gold and its price on the day of purchase from several sources (such as the India Bullion and Jewelers Association website). The price of gold varies according to 24 carat, 22 carat, and 18 carat. Post navigation Business Brief:7 of the top 10 companies gain ₹1.55 lakh crore in value; Lenskart IPO opens from 31 October Noel Tata can stop Mehli Mistry’s reappointment:Term ending on October 28; big controversy sparks in group after Ratan Tata’s demise
