Planning to Buy Gold? Check Today’s Latest Gold and Silver Rates

New Delhi: The time of confusion has come again for those buying gold and silver. Rates have been going up and down for two days. On Tuesday too, gold prices fell and silver also softened a bit. The reason is external. There is weakness in the international market and on top of that, crude oil has become expensive. This has directly affected our bullion market.

What are the rates of 24, 22 and 18 carat gold today?

Today, on Wednesday the rates are like this. 24 carat gold, which is the purest, is being sold at around Rs 15,622 per gram. The price of 22 carat jewelery is around Rs 14,320 per gram. And 18 carat gold is at Rs 11,717 per gram. Keep in mind that these rates are without GST and making charges. If you go to the shop, it will go up and down a bit.

How much did the price of silver fall?

Silver has also become cheaper. Today the price of silver in India is hovering around Rs 2,90,000 per kg. In some cities a difference of 2-3 thousand is also visible. If compared to yesterday, it has fallen by around Rs 500-700 per kg. But the rate of silver changes very quickly. 

Why are the prices of gold and silver falling?

Now there are 3-4 reasons behind this. First, tensions have increased again between America and Iran. When this happens the dollar strengthens. Dollar strong means gold weak. Second, the price of crude oil is increasing. When oil becomes expensive, the fear of inflation increases and people withdraw money by selling gold. Third, there is no wedding season in foreign countries, so the demand is also lower. Overall, there is an atmosphere of fear in the market, hence the rates are falling.

So should we buy gold now?

Experts are saying just wait for a while. Rates may move further in the next 10-15 days. If you want to buy for long term, like for 2-3 years, then you can buy little by little. Don't invest all your money at once. Look at the daily rate and when you feel the bottom has come, then buy a bigger piece. If you want to buy it for marriage then 22 carat will be fine. Take a 24 carat coin or biscuit for investment.

Is the rate different in every city?

The rates will be different in Delhi and something else in Mumbai. There is some difference everywhere in Chennai, Hyderabad and Kolkata. The reasons are local tax, transportation cost and demand there. In any case, gold is a little cheaper in the South than in the North. So before going to the shop, definitely check the rate of your city on Google. Or check the site of a good jeweller.