Gold, Silver Price India, Aug 27: Big Decline In Gold, Silver Prices

The price of 22 carat gold in India has declined today by Rs 350 to close at Rs 47,300 per 10 gram. Meanwhile, the price of 24 carat of gold will cost you Rs 51,600 per 10 gram with a dip of Rs 380. When it comes to silver prices in India, you will need to pay Rs 54,800 for 1 kg of silver.

It is worth noting that silver price in India is determined by international prices, which move in either direction. Silver price also depends on currency movement of the Rupee against the Dollar. If the Rupee falls against the Dollar and international prices remain stable, silver will become more expensive.

Gold prices in major Indian cities:

Chennai: Rs 48,050 for 10 gram of 22 carat of gold

Mumbai: Rs 47,300 for 10 gram of 22 carat of gold

Delhi: Rs 4,450 for 10 gram of 22 carat of gold

Kolkata: Rs 47,300 for 10 gram of 22 carat of gold

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.