New Delhi: The price of gold crossed the Rs 1.25 lakh mark for the first time today (October 14), on the occasion of Pushya Nakshatra. According to the India Bullion and Jewellers Association (IBJA), the price of 10 grams of 24-carat gold rose by Rs 1,997 to Rs 1,26,152. Previously, it was at RS 1,24,155 on Monday.
Meanwhile, the price of silver has risen by Rs 2,775 to an all-time high of Rs 1,78,100 per kg. On Monday, it was at Rs 1,75,325. According to experts, the price of silver is steadily rising due to the festive season, industrial demand, and a combination of low global supply and increased demand.
| Carat | Price (Rs./10 grams) |
| 24 | ₹1,26,152 |
| 22 | ₹1,15,555 |
| 18 | ₹94,614 |
| 14 | ₹73,799 |
This year, gold became costlier by Rs 49,990 and silver by Rs 92,083.
So far this year, the price of gold has increased by Rs 49,990. On December 31, 2024, 10 grams of 24-carat gold was priced at Rs 76,162, which has now risen to Rs1,26,152.
The price of silver has also increased by Rs 92,083 during this period. The price of one kilogram of silver, which was Rs 86,017 on December 31, 2024, has now risen to Rs 1,78,100 per kilogram.
Three major reasons due to which gold prices rose
Silver prices are rising due to 3 reasons
Now is not the right time to invest in gold
According to Ajay Kedia, director of Kedia Advisory, gold has already gained nearly 60% this year, so there’s little hope for further gains in the short term. People may book profits. However, investing in it for the long term could yield benefits.
Keep these 2 things in mind while buying gold
1. Buy only certified gold: Always buy certified gold that bears the Bureau of Indian Standards (BIS) hallmark. This number may be alphanumeric, such as AZ4524. Hallmarking indicates the caratage of the gold.
2. Cross-check the price: Cross-check the exact weight of the gold and its price on the day of purchase with multiple sources (such as the India Bullion and Jewellers Association website). Gold prices vary depending on 24 carat, 22 carat, and 18 carat.
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