Gold-Silver Prices Today 7 September 2023: There is good news for gold and silver buyers in the festive season. Even today, spot prices of gold and silver are falling in the bullion market. Today 24 carat gold opened at Rs 59125 per 10 grams. At the same time, 23 carat gold opened at Rs 58888 per 10. While the price of 22 carat gold is 54159 rupees and the price of 18 carat gold is 44344 rupees. Silver has opened at Rs 71180 per kg. These rates are exclusive of GST and jewelery making charges.
As per the latest open rate on IBJA, today 24 carat gold is priced at Rs. 59329 compared to Wednesday’s closing price of Rs. 204 per 10 gm. While the price of one kg of silver has become cheaper by Rs 885 to Rs 71180.
How will gold and silver fare during the festive season?
Colin Shah, MD, Cama Jewellery, said that the demand for gold is expected to increase in view of the upcoming festive season. Despite a period of stagnation in gold prices due to economic challenges in the US, demand for gold is expected to increase. This optimism has been fueled by the strong performance of stock markets. The period from September to December is traditionally an auspicious time, with festivals and wedding seasons increasing the demand for gold.
There has been a big change in the way buyers perceive the yellow metal. Buyers are now shifting from buying gold mostly for investment purposes to fashionable statement wearables. We hope this festive season will be one of the best ever.
The latest metal rate is Rs. 3 per cent GST per 10 grams market rate after jeweller’s profit
Gold 999 (24 carat) 59125 1773.75 60,898.75 66,988.63
Gold 995 (23 carat) 58888 1766.64 60,654.64 66,720.10
Gold 916 (22 carat) 54159 1624.77 55,783.77 61,362.15
Gold 750 (18 carat) 44344 1330.32 45,674.32 50,241.75
Gold 585 (14 carat) 34588 1037.64 35,625.64 39,188.20
Silver 999 71180 2135.4 73,315.40 80,646.94
Let us tell you that today’s rates have been announced by the India Bullion and Jewelers Association (IBJA). GST and Jewelery Making Charge are not applicable on this rate for gold and silver. It is possible that gold and silver may be expensive by Rs 1000 to 2000 in your city.
Now gold is getting cheaper from its all time high to just Rs 1852 per 10 grams. Let us tell you that on May 5, the spot price of 24 carat gold in the bullion market reached an all-time high of Rs 61739. At the same time, silver was Rs 77280 per kg on this day. At today’s prices, silver is becoming cheaper by Rs 6000 per kg.