In the lead-up to Mahashivratri, if you’re considering purchasing gold and silver, it’s crucial to stay updated on the current market rates. As of March 6, 2024, gold and silver prices have witnessed consistent fluctuations. Let’s delve into the fresh rates and understand the dynamics shaping the precious metals market.
Understanding Gold Karats and Purity
Gold typically comes in 20 and 22 karats, with some individuals opting for 18 karats for their jewelry. The purity of gold is denoted on jewelry as follows: 24 karats signify 999, 23 karats denote 958, 22 karats indicate 916, 21 karats represent 875, and 18 karats signify 750.
Gold and Silver Rates on March 6, 2024
On Wednesday, the bullion market reported a significant surge in gold rates while witnessing a slight decline in silver prices. As of March 6, the rate for 22 karats gold stands at INR 59,850 for 10 grams, 24 karats gold at INR 65,280 for 10 grams, and 1 kilogram of silver is priced at INR 74,700.
City-Wise Gold Rates for 22 Karats
Let’s explore the rates for 22 karats gold in prominent cities. As of March 6, 2024:
- Bhopal and Indore: INR 59,400 for 10 grams
- Jaipur, Lucknow, Delhi: INR 59,850 for 10 grams
- Hyderabad, Kerala, Kolkata, Mumbai: INR 59,700 for 10 grams
City-Wise Gold Rates for 24 Karats
Examining the rates for 24 karats gold in major cities:
- Bhopal and Indore: INR 65,250 for 10 grams
- Delhi, Jaipur, Lucknow, Chandigarh: INR 65,280 for 10 grams
- Hyderabad, Kerala, Bangalore, Mumbai: INR 65,130 for 10 grams
- Chennai: INR 65,890 for 10 grams
Current Silver Rates
For 1 kilogram of silver, the rates on March 6 are:
- Jaipur, Kolkata, Ahmedabad, Lucknow, Mumbai, Delhi: INR 74,500
- Chennai, Madurai, Hyderabad, Kerala: INR 78,000
- Bhopal and Indore: INR 74,500
Insights on Gold Purity
ISO (Indian Standard Organization) provides hallmarks to identify the purity of gold. While 24 karats gold is 99.9% pure, 22 karats gold is approximately 91% pure, with the remaining 9% comprised of other metals like copper, silver, and zinc. It’s important to note that 24 karats gold is not typically used for jewelry due to its softness.
Mahashivratri presents an auspicious occasion to invest in gold and silver. Staying informed about the latest rates ensures that you make well-informed decisions regarding your precious metal purchases.