New Delhi, May 16: Gold and silver prices have seen a significant rise this week. The price of gold has increased by over ₹8,100 per 10 grams, while silver prices have surged by ₹12,900 per kilogram.
According to the India Bullion and Jewellers Association (IBJA), the price of 24-carat gold has risen to ₹1,58,210 per 10 grams, up from ₹1,51,078 per 10 grams last week. This indicates an increase of ₹8,132 per 10 grams in just one week.
The price of 22-carat gold has also climbed to ₹1,44,920 per 10 grams, up from ₹1,38,387 per 10 grams. Meanwhile, 18-carat gold prices have risen from ₹1,13,309 per 10 grams to ₹1,18,658 per 10 grams.
Silver prices have also been on the rise. This week, silver has increased by ₹12,900, reaching ₹2,68,500 per kilogram, compared to ₹2,55,600 per kilogram last week.
During this week, the spot market saw 24-carat gold hit a peak of ₹1,61,349 per 10 grams on May 14, while the lowest price recorded was ₹1,49,677 per 10 grams on May 11.
Silver reached a high of ₹2,87,350 per kilogram on May 14, with its lowest price at ₹2,55,300 per kilogram on May 11.
The IBJA releases prices twice daily, in the morning and evening sessions.
The recent surge in gold and silver prices is attributed to the Modi government’s decision to increase the import duty on precious metals (including cess) to 15%, up from the previous 6%.
My name is Himanshu Tiwari. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including TECHNOLOGY, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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