Today the price of gold increased again, know what is the rate of 24, 22 and 18 karat gold?

Gold Silver Price - India TV Paisa
Image: File Price of gold and silver

Thursday’s trading session witnessed an increase in gold prices. According to the Indian Bullion Jewelers Association (IBJA), the price of 24 carat gold has risen to Rs 63,640 per 10 grams. Earlier, the rate of 24 carat was Rs 63,223 per 10 grams. Along with this, the price of silver remains around Rs 74000 per kg.

What is the rate of 22, 20, 18 and 14 carats?

According to IBJA, the price of 22 carat gold is Rs 62,120 per 10 grams. 20 carat gold is selling at Rs 56,640 per 10 grams. The price of 18 karat gold rose to 51 thousand 550 rupees per 10 grams. Apart from this, the price of 14 karat gold is Rs 41,050 per 10 grams.

The reason for the rise in gold prices

The reason for the increase in gold prices is the global purchase of gold. Gold is being bought heavily after the US Fed signaled a rate cut. Due to which the price of gold in the international market is running at 2087 dollars per ounce. At the same time, silver rates are around $24.552 per ounce. Both gold and silver are near their all-time highs.

A decline in the futures market

Both gold and silver are under pressure in the futures market. The gold contract for February 05, 2024 remained unchanged at 63,517, up 0.25%. Meanwhile, silver fell by 0.34 percent to Rs 75,390 per kg. Weakness in gold and silver futures is due to lightening of positions by traders.

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