Gold Prices Today: Yellow Metal Prices Dip By Rs 436, Silver Gains Rs 233

Gold in the national capital on Thursday slipped by Rs 436 to Rs 50,551 per 10 grams, according to HDFC Securities. In the previous trade, the yellow metal had finished at Rs 50,987 per 10 grams, according to a PTI report.

Silver, however, gained Rs 233 to Rs 56,750 per kg from Rs 56,517 in the previous trade.

In the international market, gold was trading higher at USD 1,743 per ounce while silver was flat at USD 19.36 per ounce, added the PTI report.

"...spot gold prices at COMEX were trading 0.26 per cent up at USD 1,743 per ounce," said Tapan Patel, Senior Analyst (Commodities) at HDFC Securities.

It is worth mentioning that the prices of gold have been falling now for the past two days. Earlier, prices of yellow metal witnessed a surge after government hiked the import duty last week in an effort to disincentivize imports as trade deficit has been widening. The government introduced a hike in the basic import duty on yellow metal from 7.5% to 12% which became effective on July 1, 2022.

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 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.