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Gold Price Update: Good news ahead of Budget! Gold, silver see big fall, gold slips below Rs57K

Gold Price Update: Today is B-Day as Finance Minister Nirmala Sitharaman is going to present full budget in Parliament. Ahead of budget it is a big news for gold buyers that the rate of gold is continuously declining for the last three straight days. This brings enthusiasm in gold buyers and jewelers too. It is expected that the decline may trigger shopping of gold.

Gold is available at the rate of Rs 56865 per 10 grams with the drop of Rs214 and the price of silver is closed at Rs 68149 per kg with the drop of Rs 43.

On Tuesday, on the second day of this trading week, a decline in the price of gold as well as silver was recorded. On Tuesday, gold (Gold Price Update) became cheaper by Rs 214 per 10 grams and closed at Rs 56865 per kg. Whereas on the last trading day on Monday, gold fell by Rs 110 per 10 grams and closed at Rs 57079 per 10 grams.

Also Read :-GOLD PRICE TODAY, 1 FEBRUARY 2023: BUDGET 2023 SIDE EFFECT! GOLD, SILVER FLY AT ROCKET PACE

On Tuesday, along with gold, a fall in the price of silver (Gold Price Update) was recorded. On Tuesday, silver fell by Rs 478 to close at Rs 7671 per kg. Whereas on the last trading day on Monday, silver rate fell by Rs 43 and closed at Rs 68149 per kg.

14 to 24 carat gold rate

After this decline, 24 carat gold became cheaper by Rs 214 to Rs 56865, 23 carat gold became cheaper by Rs 213 to Rs 56637, 22 carat gold became cheaper by Rs 196 to Rs 52088, 18 carat gold became cheaper by Rs 160 to Rs 42649 and 14 carat gold became cheaper. Gold being cheaper by Rs 125 is trading at Rs 33266 per 10 grams.

Gold is getting cheaper by Rs 500 and silver by Rs 12300 from all-time high

After this decline, gold is selling cheaper by Rs 497 per 10 grams than its all-time high. Let us tell you that earlier on January 24, 2022, gold had made its all-time high. On that day gold had gone up to the level of Rs 57362 per ten grams. At the same time, silver was still getting cheaper than its highest level at the rate of Rs 12309 per kg. The all-time high level of silver is Rs 79980 per kg.

Know 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.

Also Read :-GOLD PRICE TODAY, 31 JANUARY 2023: GOOD NEWS! BIG FALL IN GOLD PRICE AHEAD OF BUDGET; KNOW RATE FROM DELHI-MUMBAI-LUCKNOW TO INDORE

24 carat gold is the purest

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.

Buy gold only after seeing the hallmark

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.

Read More :- Latest Business News

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