Gold price in the national capital on Friday was marginally down by Rs 9 to Rs 52,592 per 10 grams, according to HDFC Securities. The yellow metal had closed at Rs 52,601 per 10 grams in the previous trade, according to a PTI report.
Silver price also declined by Rs 487 to Rs 58,477 per kg from Rs 58,964 per kg in the previous trade. In the international market, gold was quoting lower at USD 1,789 per ounce while silver was flat at USD 20.13 per ounce, added the PTI report.
"Gold prices traded below USD 1,790 (per ounce) still heading for positive week ending on economic slowdown worries and risk premium over China - Taiwan tension," Tapan Patel, Senior Analyst (Commodities) at HDFC Securities, said.
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.