Gold Price Update: Today is May 1 and is observed as day Labour Day across the country. Bullion market will continue to remain closed on Today as well. Therefore, the previous trading was done at Friday. (Gold Price Update) So the market across the country will trade at the rate of Friday.

If you are also planning to buy gold and silver during the wedding season, then this article is useful news for you.

At present, gold can be bought cheaper than the all-time high by about Rs 700 per 10 grams and silver by about Rs 6100 per kg. At present, gold is being sold below the psychological level of Rs 60,000 per 10 grams and silver at Rs 74,000 per kg.

New rate will be released on Tuesday

It may be noted that Indian Bullion Jewelers Association (IBJA) does not issue rates on Saturdays and Sundays except on holidays declared by the Central Government. On the other hand, the market will remain closed today due to the holiday of Labor Day and Maharashtra Day. That is, after a three-day holiday in the bullion market, now the new rate of gold and silver will be released on Tuesday, May 2.

Gold-silver rate on Friday

On Friday, the last day of the last trading week, gold (Gold Price Update) became cheaper by Rs 347 per 10 grams and closed at Rs 60168 per kg. While before that on Thursday, Gold Price was costlier by Rs 84 per 10 grams and closed at the level of Rs 60515 per 10 grams.

On Friday, along with gold, the price of silver also declined. On Friday, silver fell by Rs 547 to close at Rs 73868 per kg. Whereas on Thursday, silver became costlier by Rs 215 and closed at Rs 74415 per kg.

Latest 14 to 24 carat gold rate

After this, 24 carat gold became cheaper by Rs 347 to Rs 60168, 23 carat gold became cheaper by Rs 346 to Rs 59927, 22 carat gold became cheaper by Rs 288 to Rs 55114, 18 carat gold became cheaper by Rs 260 to Rs 45126 and 14 carat gold became cheaper by Rs 260. 203 cheaper and is trading at the level of Rs 35198 per 10 grams. Let us tell you that the gold and silver rates of MCX and the international market are tax-free, so there is a difference between the rates of the country’s markets.

Gold slips by Rs 700; silver by Rs 6100 from all-time high

After this, gold is selling cheaper by Rs 712 per 10 grams than its all-time high. Let us tell you that gold made its all-time high on 13 April 2023. On that day gold had gone up to the level of Rs 60880 per ten grams. At the same time, silver was still getting cheaper than its highest level at the rate of Rs 6112 per kg. The all-time high level of silver is Rs 79980 per kg.

Know the latest gold price by giving a missed call

To know the retail rate of 22 carat and 18 carat gold jewellery, you can give a missed call on 8955664433. Rates will be received through SMS in a short while. Along with this, you can visit www.ibja.co or ibjarates.com for continuous updates.

Check purity of gold

If you want to check the purity of gold now, then an app has been made by the government for this. With the BIS Care app, customers can check the purity of gold. Through this app, you can not only check the purity of gold, but can also make any complaint related to it.

24 carat gold

Let us tell you that 24 carat gold is considered the purest, but jewelry cannot be made from this gold because it is very soft. That’s why mostly 22 carat gold is used in making jewelry or jewellery. 24 carat gold is 99.9 percent pure and 22 carat is about 91 percent pure. Jewelery is made by mixing 9% other metals like copper, silver, zinc in 22 carat gold, while 24 carat gold is brilliant, but its jewelery cannot be made. That’s why most shopkeepers sell gold in 22 carat.

Hallmark utility

While buying gold, customers must take care of its quality. Gold ornaments should be bought only after seeing the hallmark. Hallmark is a government guarantee for gold and the Bureau of Indian Standards (BIS) is the only agency in India that determines hallmarks. The Hallmarking Scheme is governed by the Rules and Regulations under the Bureau of Indian Standards Act.

Hall marks are given by ISO to identify the purity of gold. 999 is written on 24 carat gold jewellery, 958 on 23 carat, 916 on 22 carat, 875 on 21 carat and 750 on 18 carat. Mostly gold is sold in 22 carat, while some people also use 18 carat. Carat does not exceed 24, and the higher the carat, the purer the gold.

Know difference between 22 and 24 carat

24 carat gold is 99.9 percent pure and 22 carat is about 91 percent pure. Jewelery is prepared by mixing 9% other metals like copper, silver, zinc in 22 carat gold. While 24K gold is luxurious, it cannot be made into jewellery. That’s why most shopkeepers sell gold in 22 carat.