In the previous trade, the yellow metal closed at Rs 52.384 per 10g. According to a PTI report, silver also fell by Rs 1,607 to Rs56,247 per kilogram from Rs 57.854 per kilogram in the previous trade.
The international market saw gold trade lower at USD 1,753 an ounce, while silver traded flat at USD 19,23 an ounce. This was according to the PTI report.
Tapan Patel (Senior Analyst, Commodities), HDFC Securities stated that gold prices were under pressure due to a stronger dollar.
How can you check the purity and quality of gold jewelry?
Gold jewelry has evolved from a fashion statement to a crucial investment for many Indians. You should ensure that you are 100% aware of the quality of gold before you purchase it.
Many investors might be looking to purchase gold in the face of falling prices. You can classify the purity of gold in carats, which can be divided into 24, 22, 18, 14, or 10 Carats. Jewelry is mostly made of 22 Carats of gold, as 24 Carats of gold are very soft and break easily. It is important to note that 22 Carat pure gold will have 999 written, while 24 Carat purity will have 995.
You will find 916 writing on 22 Carat Gold, while 750 will be written on 18 Carat Gold. You can determine the purity of jewelry by looking for the Hall Mark sign. Jewelers must place it on every piece of jewelry.
