If you’re considering purchasing gold or silver ahead of Mahashivratri and Holi, it’s crucial to check the current rates. This Saturday has witnessed a significant spike in the prices of both gold and silver. On March 2, the rates for gold and silver increased by INR 500 and INR 930, respectively. Following these new prices, gold is now valued at around INR 64,000, while silver is priced at approximately INR 75,000.
Latest Rates on March 2, 2024
As per the new rates released by the bullion market on Saturday, March 2, the rates for 22-carat gold are trending at INR 58,900 for 10 grams, INR 64,240 for 24-carat gold, and INR 48,190 for 18 grams. Additionally, the price for 1 kilogram of silver is currently at INR 75,000.
Rates in Major Cities for 22-Carat Gold
For 22-carat gold in major cities, including Bhopal and Indore, the rates for 10 grams are INR 58,600. In Jaipur, Lucknow, Delhi, and the bullion market in Kolkata, Mumbai, and Hyderabad, the rates are around INR 58,900, while it is INR 58,700 in Bangalore, Kerala, and Kolkata.
Rates in Major Cities for 24-Carat Gold
For 24-carat gold in cities like Bhopal and Indore, the rates for 10 grams are INR 63,000. In Delhi, Jaipur, Lucknow, and Chandigarh, the rates are INR 64,240, while in Hyderabad, Kerala, Bangalore, Mumbai, and Chennai, the rates range from INR 64,090 to INR 63,720.
Latest Rates for 1 Kilogram of Silver
On Saturday, the rates for 1 kilogram of silver in Jaipur, Kolkata, Ahmedabad, Lucknow, Mumbai, Delhi, and the bullion market range from INR 75,000. In Chennai, Madurai, Hyderabad, Kerala, the rates are slightly higher, standing at INR 77,000. In Bhopal and Indore, the price for 1 kilogram of silver is holding steady at INR 75,000.
Understanding Gold Purity
To identify the purity of gold, look for hallmarks provided by the Indian Standard Organization (ISO). Generally, gold is sold in 20 and 22-carat variants. The purity of 24-carat gold is 99.9%, while 22-carat gold has approximately 91% purity, with the remaining 9% being other metals like copper, silver, and zinc used to create jewelry. It’s important to note that 24-carat gold is not suitable for making jewelry due to its softness, so jewelers typically sell 18, 20, and 22-carat gold. Checking for these hallmarks ensures the authenticity and purity of the gold you purchase.
With the fluctuating prices, it’s advisable to stay informed about the latest rates, especially if you’re planning to invest in gold or silver for upcoming festive occasions.