Gold Price Delhi July 21: Big Drop In Gold, Silver Prices

Gold price in the national capital on Thursday fell by Rs 478 to Rs 49,830 per 10 grams amid fall in global gold prices, according to HDFC Securities. In the previous trade, the precious metal settled at Rs 50,308 per 10 grams, according to a PTI story.

Silver also tumbled by Rs 1,265 to Rs 54,351 per kg from Rs 55,616 per kg in the previous trade.

In the international market, gold was quoting lower at USD 1,689 per ounce while silver was flat at USD 18.42 per ounce, added the PTI story.

"Gold prices witnessed selling in previous session on strong dollar and rally in equity indices," said Tapan Patel, Senior Analyst (Commodities) at HDFC Securities.

How to check purity of gold?
Now gold jeweler is no longer left a fashion statement it has become a vital investment for many in India. Therefore, you should be totally aware of the quality and purity of gold when you buy it.

Many investors may be planning to buy gold amid the falling prices. The purity of gold is measured in Carat that may be categorized in 24, 22, 18, 14, 10 Carats. Most of the jewellaries are made from 22 Carat of gold as 24 Carat gold is very soft and tend to break easily. It is worth mentioning 24 Carat purity gold will have 999 written while 22 Carat gold will have 995 written.

If it is 22 Carat gold, you will find 916 written and 18 Carat gold will have 750 written on it. The purity of jewellery can be discovered by looking for the Hall Mark sign as it is mandatory for jewelers to write it on every jewellery piece.