The month of May has witnessed fluctuations in the prices of gold and silver. Today, on May 13, there has been a slight decline in both gold and silver prices. As individuals consider investing in these precious metals, it’s crucial to stay informed about the latest rates. Let’s delve into the current prices of gold and silver and explore trends across different cities.
Gold Prices Today
On Monday, the price of 22-carat gold stands at Rs 67,300 per 10 grams, while 24-carat gold is priced at Rs 73,380 per 10 grams. It’s important to note these rates before making any purchasing decisions.
Silver Prices Today
Similarly, the price of silver has also experienced a slight decrease. On May 13, the rate of 1 kilogram of silver is Rs 86,500. However, prices may vary across different cities, with Chennai, Madurai, Hyderabad, and Kerala witnessing rates of Rs 90,000 per kilogram.
Comparison Across Cities
In Delhi, Kolkata, Mumbai, and other major cities, the price of 10 grams of 22-carat gold ranges from Rs 55,060 to Rs 55,090. Meanwhile, 24-carat gold is priced between Rs 73,250 to Rs 73,380 across various cities like Jaipur, Lucknow, and Chandigarh.
Considerations Before Purchase
Before purchasing gold or silver, it’s essential to consider a few factors
- Check for the hallmark to ensure the purity of gold, denoted by ISO standards.
- Understand the carat value: 24-carat gold is the purest, while 22-carat gold is commonly used for jewelry.
- Note the percentage of purity: 24-carat gold is 99.9% pure, while 22-carat gold contains approximately 91% purity.
- Be aware of alloy composition: 22-carat gold often contains other metals like copper, silver, or zinc for durability.
- Consult with a trusted jeweler to understand the best option based on your requirements and budget.
As gold and silver prices continue to fluctuate, it’s essential for buyers to stay updated with the latest rates and make informed decisions. Whether purchasing for investment or adornment, understanding the market trends and quality standards is imperative for a satisfactory buying experience.