Gold prices have fallen today, November 12. According to the India Bullion and Jewellers Association (IBJA), the price of 10 grams of gold has decreased by ₹767, bringing it down to ₹1,23,362. Previously, the price of gold was ₹1,24,129 per 10 grams.
Meanwhile, silver has increased by ₹286, reaching ₹1,55,046 per kilogram. Previously, silver was priced at ₹1,54,760 per kilogram. On October 17, gold reached an all-time high of ₹1,30,874, and on October 14, silver hit an all-time high of ₹1,78,100.
The prices listed by IBJA do not include 3% GST, making charges, or jewellers’ margins, so the prices in different cities may vary. These rates are used by the RBI to set the rate for Sovereign Gold Bonds. Several banks also use these rates to determine gold loan rates.
Gold and Silver Have Increased in Price This Year
- This year, the price of gold has risen by ₹47,200. On December 31, 2024, 10 grams of 24-carat gold was priced at ₹76,162, and now it has increased to ₹1,23,362.
- The price of silver has also risen by ₹69,029. On December 31, 2024, one kilogram of silver was priced at ₹86,017, and now it has risen to ₹1,55,046 per kilogram.
Gold Could Rise to ₹1.25 Lakh Again
According to experts, there could be fluctuations in the price of gold in the coming days. However, with the wedding season now in full swing, gold is expected to get some support. As a result, its price could rise again to ₹1.25 lakh in the near future.
Always Buy Certified Gold
Always buy certified gold that carries the Bureau of Indian Standards (BIS) hallmark. This alphanumeric number can look something like AZ4524. The hallmarking indicates the carat of the gold.
