On this Friday, the bullion market has released the latest rates for gold and silver, with 22-carat gold trending at ₹57,650 for 10 grams and ₹62,880 for 24-carat gold. Meanwhile, the price of 1 kilogram of silver is at ₹74,500.
Gold and Silver Price Today, February 23, 2024
As of today, there has been no significant change in gold prices, with 22-carat gold holding steady at ₹57,650 for 10 grams and 24-carat gold at ₹62,880. However, silver prices have seen a reduction of ₹500 per kilogram, bringing the current rate to ₹74,500.
City-wise Gold Rates for 22 and 24 Carats
Gold Rates for 10 grams
Bhopal and Indore: ₹57,400
Jaipur, Lucknow, Delhi: ₹57,650
Hyderabad, Kerala, Kolkata, Mumbai: ₹57,500
Gold Rates for 24 Carats
Bhopal and Indore: ₹62,700
Delhi, Jaipur, Lucknow, Chandigarh: ₹62,880
Hyderabad, Kerala, Bangalore, Mumbai: ₹62,730
Chennai: ₹63,230
Current Silver Price for 1 Kilogram
As of February 23, 2024, the price of 1 kilogram of silver stands at ₹74,500 in cities like Jaipur, Kolkata, Ahmedabad, Lucknow, Mumbai, and Delhi. Meanwhile, in Chennai, Madurai, Hyderabad, and Kerala, the price is slightly higher at ₹76,000. Bhopal and Indore are also witnessing a consistent rate of ₹74,500 for 1 kilogram of silver.
Understanding Gold Purity
For consumers looking to purchase gold, it is crucial to understand the purity of the metal. The BIS (Bureau of Indian Standards) provides hallmarks to identify the purity of gold. The markings typically found on gold jewelry include:
24 Karat: Marked as 999, indicating 99.9% purity
22 Karat: Marked as 916, indicating approximately 91% purity
18 Karat: Marked as 750, indicating 75% purity
As March approaches, prospective buyers may be contemplating whether it’s the right time to invest in gold or silver. The steady gold prices and a slight reduction in silver rates suggest that it could indeed be a favorable time for purchase. However, buyers must remain vigilant and consider factors such as personal financial goals, market trends, and the overall economic scenario.It’s also essential to be aware of the purity of gold, as marked by hallmarks, ensuring a transparent and reliable purchase. As the market dynamics can change, it’s advisable to stay informed and consult with trusted jewelers or financial experts before making any significant investments in precious metals.
The current rates present an opportune moment for those considering adding gold or silver to their portfolios. As the financial landscape evolves, staying informed will empower buyers to make well-informed decisions in the precious metals market.