Gold and silver markets are seeing a surge due to the US-Israel and Iran war. In the futures market (MCX), gold prices are trading at Rs 1.67 lakh per 10 grams, up by about Rs 5,000. Meanwhile, silver prices have increased by Rs 8,500 and are trading at Rs 2.91 lakh/kg. According to commodity expert Ajay Kedia, gold could go up to Rs 1.90 lakh. Silver could reach Rs 3.50 lakh. In the bullion market, the price of 24-carat 10 gram gold has reached Rs 1.70 lakh. In uncertain environments like war, investors consider gold as safe and start investing in it. This increases its demand and prices start rising. 3 Main Reasons for Gold-Silver Price Increase Gold prices up by Rs 34,000 and silver by Rs 36,000 this year This year has seen a surge in gold and silver prices. At the end of last year, gold was at Rs 1.33 lakh per 10 grams, which has now reached Rs 1.67 lakh. This means its price has increased by Rs 34,000 so far this year. Similarly, silver has also become more expensive by Rs 61,000 during this period. Keep these 2 things in mind while buying gold from jewellers 1. Buy only certified gold: Always buy certified gold with Bureau of Indian Standards (BIS) hallmark. This number can be alphanumeric like AZ4524. Hallmarking indicates how many carats the gold is. 2. Cross-check prices: 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). Gold rates vary for 24 carat, 22 carat and 18 carat. 4 Ways to Identify Real Silver Post navigation Sensex nosedives 1,100 points owing to US-Israel-Iran war:Nifty plunges below 25,000 mark; Tehran Dubai stock markets shut
