Gold prices rise today, August 16, 2021: Gold prices are still rising in the gold market. Compared to Friday, the 24-carat gold spot price was Rs 337 per 10 grams at Rs 47039. At the same time, silver is seeing a decline of Rs 435 per kg. Experts believe gold will cross Rs 55,000 per 10 grams over the next one year.
On the other hand, gold fell to 46935 per 10 grams in the MCX, while silver dropped to ₹ 62726 per kg. In the previous session, gold gained around ₹ 600 per 10 grams and silver jumped to ₹ 1,350 per kg.
According to the India Bullion and Jewelers Association (ibjarates.com) website, on August 16, 2021, gold and silver spot prices in bullion markets across the country …
|Metal||August 16th rate (Rs / 10g)||August 13 rate (Rs / 10g)||
Rate change (Rs. 10 g)
|Gold 999 (24 carats)||47039||46702||337|
|Gold 995 (23 carat)||46851||46515||336|
|Gold 916 (22 carat)||43088||42779||309|
|Gold 750 (18 carat)||35279||35027||252|
|Gold 585 (14 carat)||27518||27321||197|
|999 of silver||63047 Rs / kg||62612 Rs / kg||435 Rs / kg|
Gold is 9215 rupees cheaper than its all-time high
As for 23 carat gold, its price has now reached Rs 46851. At the same time, 22 carat gold is priced at Rs 43088 and 18 carat gold. 35279 per 10 grams. 14 Carat Price 27518 Rs. If you compare today’s rate to the all-time high of Rs 56254, gold is trading at Rs 9215. At the same time, silver also fell by Rs 13966 over the previous year to Rs 63047 per kg. The rates offered by the India Bullion and Jewelers Association can vary from 500 to 1000 rupees and will tell you the price of your city.
Now is the right time to invest
Experts believe this is the right time to invest in gold. According to Ajay Kedia, Kedia Commodities Director, if you are planning to invest in gold for a month or two, you should stay away from it, but if you have been investing in gold for one and a half to two years, then this is the right time.
Also Read: Over 54 thousand times in the last 75 years, gold has returned
Asked whether gold will increase or decrease amid volatility over the next few months, Kedia says gold could break 50000 in the next six months and 54000 in one year. In the next two years, there will be a gold rise, because if we look at the record of the last 20 years, when gold rises, it will be two to four years. Be it the 2000 to 2004 boom or 2008 to 2011. This time the rise in gold came in 2020 and could last until 2022-23.
IBJA rates are universal across the country
Let us tell you that rates offered by IBJA are universal across the country. However, the rates offered on this website do not include GST. You can refer to IBJA rates when buying and selling gold. According to the India Bullion and Jewelers Association, Ibiza currently takes silver and silver from 14 centers across the country and delivers its average value. The current price of gold and silver or the price of a place may vary from place to place, but there is little difference in their price.