Gold and silver prices fall: Gold and silver prices have been falling steadily this week. This is a good opportunity to buy cheap gold. Gold prices have fallen by about Rs 1,200 in the last one week. At the same time, silver has become more affordable than Rs 2,000 (today’s price of silver). This is a good time to buy cheap jewelry. We tell you how cheap gold and silver are.
Gold fell by Rs 1,234
On Monday, May 9, gold was trading at Rs 51,699 per 10 grams. At the same time, the price of gold on May 14 was Rs 50,465 per 10 grams, thus pushing the price of gold down by Rs 1,234 per 10 grams.
Silver also fell by Rs 2,255
On May 9, silver was trading at Rs 61,361 per kg. At the same time, silver was trading at Rs 59,106 per kg on May 14. Accordingly, the price of silver has declined by Rs 2,255 per kg.
Gold could go beyond 55,000
According to Motilal Oswal Financial Services, gold prices are likely to rise again on the back of sharply rising inflation across the country. In the next 12 months, gold is expected to move above Rs 55,000 per 10 grams.
Check your city rates
You can check the price of gold from the comfort of your own home. According to the Indian Bullion and Jewelers Association, you can check the price by making a missed call to 8955664433. Your message will be sent to the same number from which you are sending the message.
Check if the gold is real or fake
You can also use the government app to check the purity of gold. With the ‘BIS Care App’ you can check whether the gold is pure or fake. Alternatively, you can make a complaint through this app.