This week there was a rise in the price of gold. According to the data of India Bullion and Jewelers Association (IBJA), last Friday (October 25), the price of 10 grams of 24 carat gold was Rs 78,015, which reached Rs 78,425 yesterday (Friday, November 2) after a week's trading.
At the same time, after a week's trading, the price of one kg of silver became cheaper by Rs 2,299 and reached Rs 93,501 per kg. A week ago the price of silver was Rs 95,800. On October 30, gold made an all-time high of Rs 79,681 and on October 23, silver made an all-time high of Rs 99,151.
Gold price in 4 metros and Bhopal
Gold can go up to Rs 87 thousand by next Diwali
According to Anuj Gupta, Commodity and Currency Head, HDFC Securities, gold is getting support due to geopolitical tension and the beginning of the festive season. Due to this, an increase in gold and silver may be seen in the coming days. By the next month, gold can go up to Rs 87 thousand per 10 grams.
Buy only certified gold
Always buy certified gold bearing the hallmark of Bureau of Indian Standards (BIS). There is a 6 digit hallmark code on gold. This is called Hallmark Unique Identification Number i.e. HUID. This number is alphanumeric i.e. something like this – AZ4524. Through hallmarking it is possible to find out how many carats of gold is.
Graphics Source: NavJivanIndia | VaskarAssets
