Gold Price: Is the price of gold getting cheaper or rising? Know how much the price of 10 grams of 24 carat gold changes in a week –

Gold prices have been fluctuating recently. Although the price of gold peaked in July 2024, its price fell sharply after the announcement of the 2024 budget. But in recent days, gold prices have risen again and the price of gold in the domestic market has once again exceeded Rs 74,000 per 10 grams. Let us know how much the price of gold has changed in the past week…

MCX Gold Price Changes So Much
First let’s look at the futures gold price on the Multi Commodity Exchange as of October 4. Let us tell you that the gold price on the MCX has increased in the past week and despite the breakout on Friday, the last trading day, it has crossed Rs 74,000. Talking about the spread of gold price on the MCX in the recent week, on September 16, 10 grams of gold was Rs 73,496 and it rose to Rs 74014 on September 20. According to this, the price of 10 grams of gold on the Multi Commodity Exchange has increased by Rs 518 in a week.

Gold prices in the domestic market have also risen
Now, regarding the domestic market, according to the Indian Bullion and Jewellers Association (IBJA) website, on September 16, the price of 10 grams of 24-carat gold was Rs 73,489, and the next day it fell to Rs 73,276 per 10 grams. On September 18, the price became cheaper, with a slight drop to Rs 73,257. The next day, on September 19, the price of gold rose again to Rs 73,485 per 10 grams, and on September 20, the last trading day of the week, the price of gold reached Rs 74,090 per 10 grams. According to this, the price in the domestic market rose by Rs 605 in a week.

Gold rating based on quality (according to IBJA)

The domestic market gold prices provided on the IBJA website are exclusive of 3% GST and production charges. Production charges vary and hence, the gold prices vary in various cities in the country.

Why did gold fall after the Budget?
It is also important to know here that why did the gold price suddenly fall sharply after Finance Minister Nirmala Sitharaman presented the Modi 3.0 Budget in Parliament on July 23? So let us tell you that many changes were announced in the Budget and one of them was related to gold and silver. In fact, the government reduced the customs duty on gold from 15% to 6%, and the impact of this was reflected in the gold price falling by about Rs 4,000 on the Budget day, and this fall continued for a few days.

How to test the purity of gold
Let us tell you that the price of gold jewellery varies across the country due to GST, state taxes and manufacturing charges. Here we tell you that most of the jewellery is made with only 22 carat gold, some people also use 18 carat gold. The Hall mark is recorded on the jewellery according to the carat number. 24 carat gold jewellery has 999 written on it, 23 carat has 958 written on it, 22 carat has 916 written on it, 21 carat has 875 written on it, and 18 carat has 750 written on it.

Here I tell you that you can also check the price of gold and silver through missed calls. For this, you have to call the number 8955664433. After a while of missed calls, you will know the rates through SMS. Apart from this, you can also visit the official website ibjarates.com to check the rates.