Gold and silver prices rose today, March 2nd, due to the US-Israel-Iran war. According to the India Bullion and Jewelers Association (IBJA), 10 grams of 24-carat gold rose by ₹8,000 to ₹1.67 lakh. Previously, its price was ₹1.59 lakh per 10 grams. Similarly, one kilogram of silver rose by ₹23,000 to ₹2.90 lakh. Previously, its price was ₹2.67 lakh per kilogram. According to commodity expert Ajay Kedia, gold could reach ₹1.90 lakh and silver could reach ₹3.50 lakh. In uncertain circumstances like war, investors consider gold a safe haven and invest in it. This increases its demand and makes it more expensive. Three main reasons for the rise in gold and silver prices: Gold rose ₹34,000 this year, while silver rose ₹60,000.
This year, gold and silver prices have seen a rise. At the end of last year, gold was priced at ₹1.33 lakh per 10 grams, and now it has reached ₹1.67 lakh. This means its price has increased by ₹34,000 so far this year. Silver has also become more expensive by ₹60,000 during this period. Keep these two things in mind when buying gold from jewelers: 1. Buy certified gold: Always buy certified gold hallmarked by the Bureau of Indian Standards (BIS). This number may be alphanumeric, or something like AZ4524. Hallmarking indicates the carat of the gold. 2. Cross-check the price: Cross-check the exact weight of the gold and its price on the day of purchase from multiple sources (such as the India Bullion and Jewelers Association’s website). Gold prices vary depending on 24-carat, 22-carat, and 18-carat gold. 4 ways to identify real silver ———————————————————————- Also read this business-related news Sensex falls 1000 points due to US-Iran war: reaches 80,000, realty and auto stocks fall The stock market is falling today, March 2nd, due to the US-Israel and Iran war. The Sensex is trading at the 80,000 level, down over 1,000 points (1.14%). The Nifty is also down nearly 300 points (1.14%), and is at the 24,900 level. Read the full news
