Gold and silver prices are experiencing significant fluctuations during the wedding season. On November 23, 2024, gold prices soared past ₹79,000 for 10 grams of 24K gold, while silver rates remained steady, hovering near ₹92,000 per kilogram. If you’re planning to invest in gold or silver, knowing the latest rates is crucial to making informed decisions. Here’s a comprehensive update on today’s gold and silver prices across various cities in India, along with tips on checking gold purity.
Latest Gold Rates on November 23, 2024
Gold prices saw a notable increase of ₹820 per 10 grams today. This spike underscores the market’s volatility during the festive and wedding seasons, making it vital for buyers to keep track of daily price trends. Below are the updated rates for 18K, 22K, and 24K gold:
18K Gold Rates
- Delhi: ₹59,850 per 10 grams.
- Mumbai and Kolkata: ₹59,730 per 10 grams.
- Indore and Bhopal: ₹59,770 per 10 grams.
- Chennai: ₹60,200 per 10 grams.
22K Gold Rates
- Bhopal and Indore: ₹73,050 per 10 grams.
- Delhi, Jaipur, and Lucknow: ₹73,150 per 10 grams.
- Mumbai, Hyderabad, Kerala, and Kolkata: ₹73,000 per 10 grams.
24K Gold Rates
- Bhopal and Indore: ₹79,690 per 10 grams.
- Delhi, Jaipur, and Lucknow: ₹79,790 per 10 grams.
- Mumbai, Hyderabad, Chennai, and Kerala: ₹79,640 per 10 grams.
Latest Silver Rates on November 23, 2024
Silver prices have remained stable across most markets. Here are the rates for 1 kilogram of silver today:
- Delhi, Mumbai, Kolkata, Jaipur, and Lucknow: ₹92,000.
- Chennai, Hyderabad, and Kerala: ₹1,01,000.
How to Check Gold Purity Before Buying
Purchasing gold requires ensuring its purity and authenticity. The Bureau of Indian Standards (BIS) provides hallmarks for certified gold, helping buyers identify genuine products. Here’s what to know about gold purity:
- 24K Gold: The purest form of gold, with 99.9% purity, marked as “999.” It is too soft for jewelry but ideal for coins and bars.
- 22K Gold: Contains 91.6% gold (marked as “916”) and is commonly used for making jewelry. It includes 8.4% other metals like copper or zinc for durability.
- 18K Gold: With 75% purity (marked as “750”), it is often used for designer jewelry.
Understanding Hallmarks
- 24K: Marked as “999”
- 22K: Marked as “916”
- 18K: Marked as “750”
Look for these markings on gold items to ensure quality and avoid counterfeit products.
Why Gold Prices Fluctuate
Gold prices are influenced by various factors, including global market trends, currency fluctuations, and seasonal demand. During the wedding and festive seasons, demand typically surges, leading to price hikes. Monitoring these trends can help buyers make smarter purchasing decisions.
Conclusion
Whether you’re buying gold or silver for investment, weddings, or festive celebrations, staying updated on the latest rates is crucial. On November 23, 2024, gold prices crossed ₹79,000, while silver rates were steady at ₹92,000 in most markets. Before making a purchase, check the gold’s purity using BIS hallmarks to ensure authenticity and value for money.