Gold Price Today: The price of gold, which reached the level of Rs 56,000 per 10 grams on MCX, has come down to Rs 50,000. However, on MCX on Monday, both the precious metals are trading with slight gains.
Gold Price Today: The rate of gold in the Indian market is running at a three-month low. However, there is a slight increase in the price of silver from the last trading session. On Monday, the first trading day of the week, there was a slight rise in the Multi Commodity Exchange (MCX), while a slight fall was seen in the price of gold in the bullion market. On Monday, the June futures market of MCX Gold on MCX rose by 0.11 percent to Rs 49,937 per 10 grams. The rate of silver (MCX Silver Price) on MCX was seen increasing by 0.91 percent at Rs 59869 per kg.
Gold breaks down due to increase in interest rate
In the last trading week, the price of gold has fallen by more than Rs 1000 per 10 grams and silver by Rs 2000 per kg. In the last days, the interest rate was increased by the Federal Reserve, Bank of England and RBI. In the beginning of March, the price of gold had come close to Rs 56000 per 10 grams. Gold is falling from the record level by Rs 6000 per 10 grams. According to this, gold is running at the low level of three months.
Rate of Rs 46136 per 10 grams 22 carats
According to the website of IBJA, on Monday, 24 carat gold is trading at Rs 50367 per 10 grams, 23 carat Rs 50165 per 10 grams and 22 carat Rs 46136 per 10 grams on Monday. Similarly, the price of 20 carat gold is Rs 37775 and 14 carat Rs 29465 per 10 grams.
3% GST separately
To buy gold, you have to pay 3 percent GST separately on the rate issued by IBJA. Similarly, there was a slight increase in the rate of silver on IBJA on Tuesday and it climbed to the level of Rs 59683 per kg.
How to identify purity
Before going to buy gold, you need to know the purity. 999 will be written on 24 carat purity gold. 995 is written on 23 carat gold and 916 on 22 carat. 750 is written on 18 carat while 585 is written on 14 carat. Silver with 999 purity is considered the purest.
