Gold prices have seen a slight decline during the wedding season.
Gold prices have seen a slight decline during the wedding season. Gold prices fell on Monday. On the MCX, gold fell 0.07 per cent. After this, the price of 24 carat gold has come down to Rs 47,870 per ten grams. At the COMEX, gold prices fell more than 1 percent to ८ 1,783 an ounce. Silver, on the other hand, rose 0.13 per cent. With this increase, the price of silver has reached Rs 61,599 per kg.
Gold prices vary across the country due to excise duty, state tax and making charges. Mostly 22 carats are used to make jewelry. Some people also use 18 carat gold. Hall marks are made on the jewelry according to the carat. It has 999 on 24 carat gold, 958 on 23 carat, 916 on 22 carat, 875 on 21 carat and 750 on 18 carat.
What is the difference between 22 carat and 24 carat?
24 carat gold is 99.9% pure and 22 carat gold is about 91% pure. Although 24 carat gold is pure, its ornaments cannot be made. So shopkeepers sell gold in 22 carats.