Monday, December 5, 2022

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Gold Price today: Good news! Gold tumbles again, rate slips by Rs5700!

Gold Price today: There is vital news for you if you wish to buy inexpensive gold after Dhanteras and Diwali. The price of gold and silver has been steadily increasing since Dhanteras and Diwali. But gold is now less expensive. Silver, meanwhile, has risen in price even today. Silver has increased in price by Rs 221 per kg while gold has decreased in price by Rs 227 per 10 grammes on Friday.

Gold is now selling for roughly Rs. 50502 and silver for about Rs. 57419 after this decline. From its all-time high, gold is currently becoming cheaper by Rs. 227 per 10 grammes, while silver is becoming cheaper by Rs. 221 per kg.

From all-time highs, gold is now  Rs. 5700 cheaper than before, while silver is Rs.22500

The price of gold per 10 grammes is today Rs 5698 less than it was at its peak. Let me inform you that gold reached its peak in August 2020. At that point, the price of gold per 10 kilos had increased to Rs 56200. Silver was also depreciating at a pace of approximately Rs 22561 per kilogramme from its peak. Silver is now priced at Rs. 79980 per kilogramme.

Price of 14 to 24 carat gold

On Friday, 24 carat gold will cost Rs 277 less than Rs 50502, 23 carat gold will cost Rs 276 less than Rs 50300, 22 carat gold will cost Rs 254 less than Rs 46260, and 18 carat gold will cost Rs 207 less than Rs 37877. Gold dropped by Rs 162 and ended the day at Rs 29544 for 10 grammes.

Check Gold impurity:

There are myriads of reasons to buy in gold during festival season. Besides the traditional point Gold purchase provides you an excellent opportunity for diversification. It is said that there no better tool then gold, when it comes to diversification of assets. . If you have not invested in yellow metal, you are probably committing a mistake. It also provides some relief against poor times. So invest in Gold without coming under the hands of frauds. Here are guides to check impurity of Gold

Purity of gold:

Purity of gold: Always check local gold prices before purchasing the Gold. The gold we found or buy in the market is mixed or alloyed with some other metals such as copper, nickel, silver, palladium and zinc. The least expensive or cheapest gold alloy is pink gold or rose gold, which is mixed with silver and copper and occasionally referred to as green gold. Next is white gold, which is mixed with palladium, nickel, and zinc, and the most expensive one is yellow gold alloyed or mixed with silver, copper, and zinc.

The carats indicate the exact amount of alloying and how pure the gold is. 24 carats are 99.9% pure, 23 carats are 95.6% pure, 22 carats are 91.6% pure, 18 carats are 75.0% pure, 17 carats are 70.8% pure, 14 carats are 58.5% pure, 10 carats are 41.7% pure, 9 carats are 37.5% pure, and 8 carats are 33.3% pure.

Magnetic method to test:

The magnetic test is to check gold purity. There are various ways to check the gold purity. Among these one of the popular ways to check gold is the magnetic method. This is known to be far more easier than other ways like acid. Just imagine for an acid test you need to carry the acid around. The magnet is far easier as you can carry a small piece easily in your pocket. The beauty of this mechanism is that it is very easy to understand as well. The simple logic is that if gold is mixed with a metal, it will immediately get attracted to the magnet.

Skin test:

This is also one of the popular method to check the purity of Gold. Having said that the skin test also is quiet popular, if you hold the gold jewellery in your hands, it will discolour if it is not genuine. On the other hand, the one that is real will never, thus showing and proving the purity of gold. This is also a relatively simple way to understand and inspect when buying gold in India.

Hallmarked gold:

It is important to clear to the gold buyers that there is no difference in gold prices of normal gold and hallmarked gold. The hallmarked gold just ensures the purity of the gold and it is convenient for common gold buyers to buy gold without impurity. So, it is better to stick to the quality hallmarked products.

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