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Another major drop in gold-silver rate in lockdown, know 10 grams of 24 to 18 carat gold

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Gold-Silver Price Today 27th May 2020: Today i.e. on Wednesday 27 May, there is a huge decline in the prices of gold and silver. This morning, 10 grams of 24 carat gold has come to Rs 46360. Today, gold has been cheaper by Rs 539 per 10 grams as compared to Friday. On the other hand, if we talk about silver, today the rupee has fallen by Rs 705 per kg and silver has come down to Rs 46920. The website of the India Bullion and Jewelers Association (ibjarates.com) updates their average price. According to ibjarates, gold-silver rates were as follows on 27 May 2020…

27 May 2020: Gold and silver price

Metal27th May Rate (Rs / 10g)22nd May Rate (Rs / 10g)Rate change (Rs / 10g)
Gold 9994626046799-539
Gold 9954607546617-542
Gold 9164237442868-494
Gold 7503469535099-404
Gold 5852706227377-315
Silver 99946920 Rs / Kg47625 Rs / Kg-705 Rs / Kg

At the same time, the price of 24 carat gold i.e. Gold 999 has become cheaper by Rs 539 as compared to Tuesday. At the same time, 23 carat gold i.e. gold 995 is seen falling by Rs 542. While the price of 22 carat gold has fallen by Rs 494 to Rs 42374 per 10 grams. According to Rajesh Khosla, media in-charge of the India Bullion and Jewelers Association, Delhi, ibja shows the average price of gold and silver from 14 centers across the country. Khosla says that the current rate of gold-silver or, say, the spot price may be different at different places but there is a slight difference in their prices.

First find out the rate of gold

If you are going to buy gold or silver, then definitely know the rate of gold before buying or selling. One can find out the rate of the spot by visiting IBJA i.e. Indian Bullion Jewelers Association website https://ibjarates.com/. Explain that the rate issued by IBJA is universally accepted. However, 3% GST (GST) has not been included in the rate given on this website.

Also read: From 8 June, Modi government will sell cheap gold again, next year the price of 10 grams of gold can reach Rs 54,000

When selling gold, you can refer to the rate of IBJA. It is important to mention here that you can get a good price from the jeweler if you know the price beforehand. The real gold is only 24 carats, but it does not create any evidence, because it is very soft. 22 carat gold is used for jewelery, of which 91.66 per cent is gold.

When buying jewelery, be sure to check the hallmark

If you are going to buy jewelery, then take care that only jewelery with hallmark is taken. It can be difficult to find the right price for hallmarked jewelery while selling again. Explain that at the time of sale, the value of hallmarked jewelery is fixed at the current market price. So buy only Hallmark Certificate jewelery.

What is gold 999

Hallmarked jewelery has hallmark marks and some digits such as 999, 916, 875. The secret of your gold purity is hidden in these marks. Keep in mind, the gold jewelery with the number 999 is 24 carat with the hallmark mark. 999 means the purity of gold in it is 99.9 percent. Similarly, 995 on 23 carat gold, while 916 on 22 carat gold, 875 on 21 carat, 750 marks on 18 carat.

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