Gold prices have fallen today i.e. on 18 June. 10 grams of 24 carat gold has fallen by 110 rupees to Rs 72,220. At the same time, one kg of silver is being sold for Rs 91,500, up by 500 rupees.
This year, the price of gold has increased by Rs 8,350 per 10 grams. At the beginning of the year, it was at Rs 63,870. At the same time, silver was at Rs 72,160 per kg. That is, silver has increased by Rs 19,340 this year.
Keep these 4 things in mind while buying gold
- Buy only certified gold
Always buy certified gold bearing the hallmark of Bureau of Indian Standards (BIS). Under the new rule, from April 1, gold will not be sold without six-digit alphanumeric hallmarking. Just like there is a 12-digit code on the Aadhar card, similarly there will be a 6-digit hallmark code on gold. This is called Hallmark Unique Identification Number i.e. HUID. This number can be alphanumeric i.e. something like this – AZ4524. Through hallmarking, it has become possible to know how many carats a gold is.
- Cross check the price
Cross check the correct weight of gold and its price on the day of purchase from many sources (such as the website of India Bullion and Jewelers Association). The price of gold varies according to 24 carat, 22 carat and 18 carat.
24 carat gold is considered the purest gold, but jewelry is not made from it because it is very soft. Usually 22 carat or less carat gold is used for jewelry.
- Check the price according to carat
Suppose the price of 24 carat gold is 70 thousand rupees per 10 grams. That is, the price of one gram of gold is 7000 rupees. In such a situation, the price of 1 gram of gold with 1 carat purity is 7000/24 i.e. 291 rupees.
- Do not make cash payment, take the bill
Cash payment can prove to be a big mistake while buying gold. It is good to make payment through UPI (like Bhim App) and digital banking. If you want, you can also make payment through debit or credit card. After this, do not forget to take the bill. If you have ordered online, then definitely check the packaging.
- Know the reselling policy
Many people see gold as an investment. In such a situation, it is important that you have complete information about the resale value of gold. Also, talk to the store employees about the buyback policy of the concerned jeweler.
