Gold Gets Cheaper! Rates fall for the second consecutive day, 10 grams can be bought for Rs…, silver prices go up because…

On the last day of the trading week (Friday) the prices of gold witnessed a decline in the Indian bullion market. Meanwhile the silver prices have increased.

Gold Price Today: In a major development on the last day of trading, the gold prices declined on Friday in the Indian bullion market. Meanwhile, silver prices rose for the second consecutive day. The price of the yellow metal stood at Rs 1,13,000 per 10 grams. Silver rates have risen over Rs 1,37,000 per kilogram. It is noteworthy that the prices of the yellow metal are expected to rise due to major festivals – Dhanteras and Diwali. As per the India Bullion and Jewellers Association, the price of 916 purity gold (22 carat) was Rs 1,03,828 per 10 grams on Thursday evening. On Friday, the prices fell to Rs 1,03,782. It means that gold has become cheaper based on the purity, while prices of silver have increased.

Gold And Silver Prices

According to the IBJA, the prices of 24-carat gold with 999 purity were Rs 1,13,232 in the morning, and in the evening the gold prices rose to Rs 1,13,349 per 10 grams. Meanwhile, Silver prices increased from Rs 134,556 to Rs 137,040 per kilogram.

HIGHLIGHTS

• Gold prices declined on Friday with the yellow metal at Rs 1,13,000 per 10 grams
• Silver rose for the second straight day to over Rs 1,37,000 per kg.
• Despite the fall, gold is expected to rise with upcoming festivals like Dhanteras and Diwali. 22-carat gold dropped from Rs 1,03,828 on Thursday evening to Rs 1,03,782 on Friday.
• IBJA reported 24-carat gold at Rs 1,13,232 in the morning and Rs 1,13,349 in the evening, while silver increased from Rs 1,34,556 to Rs 1,37,040 per kilogram.
• IBJA does not release rates on weekends, and published prices exclude GST, taxes.

IBJA Gold Rates Not Released On Weekends

It is worth noting that IBJA does not release rates on weekends – Saturdays and Sundays. However, it releases the rates of the precious metals on holidays declared by the central government. The prices released by the association provide standard prices for the yellow metal of the different purities. (Please note: All prices shown are before taxes and making charges. Normally the making charges 9 to 11 percent).

The rates published by the IBJA are recognised across the country; however, these prices do not include GST. It is important to mention that when buying jewellery, the prices for gold or silver are elevated as they encompass taxes.