Gold Price Today: There was a slight increase in the price of gold in MCX India and bullion market on Tuesday. In the last two months, the rate of gold has fallen by about Rs 5000 per 10 grams. On Tuesday, the price of 22 carat gold reached Rs 47161 per 10 grams.
Gold Price Today: There is a slight increase in the rate of gold and silver in the Indian market. On Tuesday, both the Multi Commodity Exchange (MCX) and the bullion market have gained momentum. On MCX, the June futures market of Gold (MCX Gold Price) rose 0.08 percent to Rs 50,998 per 10 grams. The price of silver on MCX increased by 0.59 percent to Rs 61860 per kg.
Gold was broken due to increase in interest rate
Earlier, the fall in the price of gold was seen in the last week of April and the first week of May. Actually, the interest rate was increased by the Federal Reserve, Bank of England and RBI in the last days. In the beginning of March, the price of gold had come close to Rs 56000 per 10 grams. Accordingly, gold is currently falling by Rs 5000 per 10 grams. In the bullion market, 22 carat gold is running at Rs 47161 per 10 grams.
Rate of Rs 47161 per 10 grams
According to the rate on Tuesday from IBJA, 24 carat gold is moving marginally higher at Rs 51486 per 10 grams, 23 carat Rs 51280 per 10 grams and 22 carat Rs 47161 per 10 grams. Similarly, the price of 20 carat gold is Rs 38615 and 14 carat Rs 30119 per 10 grams.
3% GST to be paid 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 61967 per kg.
How to identify purity
If you go to buy gold, then gold of 24 carat purity will have 999 written on it. 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.
