As the auspicious occasion of Akshaya Tritiya approaches, many people consider buying gold and silver as a tradition and an investment. With the anticipation surrounding this festive period, let’s take a look at the latest prices of gold and silver as of April 20, 2024.
Gold and Silver Prices Today, April 20, 2024
Before diving into the specifics, it’s important to note that the prices of gold and silver have been experiencing fluctuations in the lead-up to the end of April. On April 20th, 2024, the price of 22-carat gold stood at Rs. 68,210, while 24-carat gold was priced at Rs. 74,390. Similarly, the rate for 1 kilogram of silver was trending at Rs. 86,500. These rates provide insights into the current market trends for gold and silver in various regions such as Madhya Pradesh, Delhi, Uttar Pradesh, and Maharashtra.
Gold and Silver Rates Across Different Cities
In the bullion market on April 20th, 2024, the prices of gold and silver varied across different cities. For instance, in Delhi, the rate for 10 grams of 18-carat gold was Rs. 55,700, while in Kolkata and Mumbai, it stood at Rs. 55,680. Chennai saw a slightly higher rate of Rs. 56,330 for the same quantity.
Moving on to 22-carat gold, cities like Bhopal, Indore, Jaipur, Lucknow, and Delhi had rates ranging from Rs. 68,050 to Rs. 68,210 per 10 grams. Meanwhile, Hyderabad, Kerala, Kolkata, and Mumbai recorded prices around Rs. 68,050.
For 24-carat gold, cities like Bhopal, Indore, Delhi, Jaipur, Lucknow, and Chandigarh witnessed rates ranging from Rs. 74,240 to Rs. 74,390 per 10 grams. Chennai stood out with a slightly higher rate of Rs. 75,510 for the same quantity.
As for silver, the price for 1 kilogram varied across cities, with rates ranging from Rs. 86,500 to Rs. 90,000. Cities like Jaipur, Kolkata, Ahmedabad, Lucknow, Mumbai, and Delhi had rates around Rs. 86,500, while Chennai, Madurai, Hyderabad, and Kerala recorded prices closer to Rs. 90,000.
Important Considerations Before Buying Gold
Before making any purchase, it’s essential to consider a few key factors:
- Gold purity can be identified by Hallmark marks provided by the Indian Standard Organization (ISO).
- Gold is typically sold in 20 and 22-carat variants, with some opting for 18-carat for jewelry.
- The purity of gold jewelry is indicated by markings such as 999 for 24-carat, 958 for 23-carat, and so on.
- While 24-carat gold is 99.9% pure, 22-carat gold contains approximately 91% purity, with the remaining 9% comprising other metals like copper and silver.
- It’s worth noting that 24-carat gold is not commonly used for jewelry due to its softness, with 18, 20, and 22-carat variants being more prevalent.
As the demand for gold and silver surges ahead of Akshaya Tritiya, staying informed about the latest prices and understanding key factors affecting their purchase can help individuals make informed decisions. Whether as a symbol of tradition or a long-term investment, gold and silver continue to hold their allure for buyers across India.