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Gold Rate: Gold became costlier by Rs 770, silver by Rs 2,734, there was a big fluctuation in prices this week

Photo:FILE

Gold Rate

Highlights

  • On June 27, the price of 24 carat gold was Rs 51,021 per 10 grams.
  • On July 2, the price rose to Rs 51,791 per 10 grams.
  • Due to the move of the government, the price of gold may increase from Rs 2000 to Rs 2500.

Gold Rate: The past week was full of ups and downs for those investing in gold and silver. There was a strong rise in gold prices throughout the week. So there were new opportunities for investment in silver. According to the website of India Bullion and Jewelers Association (IBJA), gold price in Delhi meanwhile jumped by more than Rs 770. That is, on June 27, the price of 24-carat gold was Rs 51,021 per 10 grams, while on July 2, the price rose to Rs 51,791 per 10 grams.

Weekly Gold Rate

Image Source : FILE

Weekly Gold Rate

Big volatility in silver this week

Unlike gold, silver has seen a major decline this week. On June 27, the price of silver was Rs 60,507 per kg. By the end of the week, it fell to Rs 57,773 per kg. Thus this week the price of silver has declined by Rs 2,734.

What is the price of gold at the end of the week

If we look at the price per 10 grams of gold in terms of carat, then 24 carat gold is getting Rs 51,791. At the same time, the price of 23 carat gold is Rs 51,584. At the same time, 22 carat gold used in making jewelery is being sold for Rs 47,441. Lastly, if we talk about 18 carat gold, then it is being sold for Rs 38,843.

Buy now or wait?

After so much volatility in the price of gold and silver, the buyers are thinking whether to buy now or not. Let us inform that on Friday itself, the government has increased the basic custom duty on gold from 10.75% to 15%. In such a situation, gold can be expensive. Bullion trader Dinkar Jain says that in the coming time, the prices of gold can increase from Rs 2000 to Rs 2500.

Why did the government increase custom duty

The country is currently in a period of severe economic crisis, the foreign exchange reserves of the country are under constant pressure, in such a situation, the government is trying its best to reduce the import of gold. Explain that India is one of the largest gold importers in the world. Due to less gold imports, the rupee may get some strength.

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Shivam Bangwal

Shivam Bangwal is an Indian based entrepreneur who is a tech, travel and coding enthusiast with a post graduation degree on Master's of Computer Applications. He is a founder of Youthistaan, People News Chronicle, Hitchhike TV, Branding Panther and many more.
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