As Akshaya Tritiya approaches, many individuals contemplate purchasing gold or silver as part of traditional festivities. To aid in your decision-making process, here are the latest rates for May 10, 2024. On this Friday, gold prices have surged by Rs 930, while silver has seen an increase of Rs 1300. Following the new rates, the price of gold has crossed Rs 73,000, and silver rates have surpassed Rs 86,000.
Today’s Gold and Silver Rates
Gold
- 22 Carat Gold Rate:
- Delhi: Rs 67,150
- Mumbai: Rs 67,000
- Chennai: Rs 67,500
- 24 Carat Gold Rate:
- Delhi: Rs 73,240
- Mumbai: Rs 73,090
- Chennai: Rs 73,150
Silver
- 1 Kg Silver Rate:
- Delhi, Jaipur, Lucknow, Mumbai: Rs 86,500
- Chennai, Madurai, Hyderabad, Kerala: Rs 90,000
- Bhopal, Indore: Rs 86,500
Factors to Consider Before Purchasing Gold
- Hallmark Certification: Look for the hallmark certification provided by the Indian Standard Organization (ISO) to ensure the purity of gold.
- Caratage: Gold is commonly available in 20 and 22 carats, with some opting for 18 carat gold for jewelry.
- Purity Standards: Gold jewelry is marked with purity standards, such as 24 carat (99.9% pure), 22 carat (91% pure), and 18 carat (75% pure).
- Additional Metals: In 22 carat gold, about 9% of other metals like copper, silver, or zinc are mixed to make jewelry.
- No Adulteration: 24 carat gold is free from any adulteration, whereas jewelry is typically made from 18, 20, or 22 carat gold due to the softness of pure gold.
As you plan your Akshaya Tritiya purchases, considering these factors can help ensure that you make an informed decision. Whether you’re purchasing gold for investment purposes or as part of traditional celebrations, understanding the market rates and quality standards is essential.