Gold Prices Today: After 3-day Fall, Yellow Metal Rates Witness Rise; Silver at Rs 67,210 Per Kg

Gold Prices Today: After a three-day fall, gold prices on Monday climbed to 54,120 from Rs 54,110 per 10 gm, while silver rose to Rs 67,210 from Rs 67,200 per kg. The yellow metal had closed at 54,110 in the previous trade. Also Read – Gold Rate Today August 25: Price of Yellow Metal Declines by Rs 557, Silver Tumbles Rs 1606

Notably, prices for gold in India vary across different parts due to excise duty, state taxes, and making charges. Also Read – Gold Futures Touches New High, Nears Rs 50,000/10 gm

In New Delhi, customers will have to pay Rs 49,610 for 10 gram of 22-carat gold. In Mumbai and Chennai, the rate was Rs 49,510 and Rs 48,890 respectively. Also Read – Coimbatore Goldsmith Designs Rs 2.75 Lakh Face Mask With Gold And Silver Threads, See Pics

Check out 22-Carat Gold Prices in Major Cities 

According to Praveen Khandelwal, Secretary General, CAIT and Pankaj Arora, National Convenor of All India Jewelers and Goldsmith Federation, silver price is expected to be in a range of Rs 72,000 to Rs 75,000 per kilogram.

He was quoted as saying in a statement: “Gold has always been the best and safest choice of investment for the customers as gold prices generally keep on increasing whereas on the other hand, it is also the most important invest ment for traders which is quite safe.”

Prior to the lockdown, gold prices stood at Rs 41,000 per 10 grams and that of silver was at Rs 40,000 per kg and now in a period of just 4 months there is an increase of 28-30 per cent in gold and in silver the increase is of about 45 per cent, he said.

The confederation said that to allow the jewellers to liquidate their old stocks, the Centre should provide a further extension of 2 years, in the view of Covid-19 disruption.

Earlier, the Centre had made ‘Hallmarking’ on every gold item compulsory from January 15, 2021.

“The government gave a time of one year to the Jewellers to liquidate their old stock. However, due to Covid-19, trading activities across country got highly disturbed and virtually there is no sale since February which deprived the jewellers to liquidate their old stock,” the statement said.

“Jewellers would be needing a time of two years to liquidate the old stocks and to comply with the provisions of ‘Hallmark’.”

In the global market, gold was trading with gains at USD 1,935 per ounce and silver was flat at USD 26.71 an ounce.

(With agency inputs)