Gold Rate Today (28 August 2024); Sona Chandi Ka Bhav Aaj Ka Kya Hai | Business News | Silver became cheaper by Rs 1242 in a day: reached ₹ 84,720 per kg, gold price fell by Rs 68

There has been a decline in the prices of gold and silver today (28 August). According to the India Bullion and Jewelers Association (IBJA), the price of one kg silver has fallen by Rs 1242 to Rs 84,720 per kg on Wednesday. Earlier on Tuesday, the price of silver was Rs 85,962 per kg.

At the same time, 10 grams of 24 carat gold has come down by Rs 68 to Rs 71,694. On Monday, its price was Rs 71,762 per ten grams. This year gold reached an all-time high of Rs 73,302 per 10 grams in April. At the same time, silver reached its all-time high of Rs 94,280 per 10 grams on May 29.

Gold has increased by more than 8 thousand rupees so far this year
According to IBJA, the price of gold has increased by Rs 8,342 so far this year. The price of silver has increased by Rs 12,567. On January 1, gold was at Rs 63,352 per 10 grams, which has now reached Rs 71,694 per 10 grams. The price of one kg silver has increased from Rs 73,395 per kg to Rs 84,720 per kg.

Gold may cost Rs 1.68 lakh per 10 grams by 2030
According to Mahendra Lunia, chairman of Vighnaharta Gold, the price of gold can reach Rs 1.68 lakh per 10 grams by 2030. The reasons for the rise in gold prices include factors ranging from geopolitical tensions to global economic recession.

Keep these 2 things in mind while buying gold

1. 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 Aadhaar 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 find out how many carats a particular gold has.

2. Cross check the price
Cross-check the exact weight of gold and its price on the day of purchase from multiple sources (such as the website of the 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 jewellery is not made from it because it is very soft. Usually 22 carat or less carat gold is used for jewellery.