This week, there has been a big decline in the prices of golds and silver. According to the website of India Bullion and Jewelers Association (IBJA), last Saturday, i.e. on November 9, golds was at Rs. 77,382, which has now come down to Rs. 73,739 per 10 grams (on November 16). That is, its price has decreased by Rs. 3,643 this week.
Talking about silver, last Saturday it was at Rs 90,859, which has now come down to Rs 87,103 per kg. Thus, its price has decreased by Rs 3,756 this week. On October 23, silver was at Rs. 99,151 and on October 30, gold was at an all-time high of Rs. 79,681.
Always buy certified golds with the hallmark of the Bureau of Indian Standards (BIS). There is a 6-digit hallmark code on golds. It is called the Hallmark Unique Identification Number or HUID. This number is alphanumeric, meaning it looks something like this – AZ4524. Through hallmarking, it can be known how many carats the golds is.
Cross-check the actual weight of the golds and its price on the day of purchase from multiple sources (such as the India Bullion and Jewelers Association website). The price of golds varies according to 24 karat, 22 karat and 18 karat. 24 karat golds is considered the purest , but it is not used to make jewellery because it is too soft.
While buying golds, it is better to pay through UPI (like BHIM app) and digital banking instead of cash payment. You can also pay through debit or credit card if you wish. Don’t forget to take the bill after this. If you have ordered online, definitely check the packaging.
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