Gold Price Today (16 October); What is the price of gold and silver today? Business News | Gold at all time high of ₹ 76,502: So far this year, it has become costlier by ₹ 13,150, can go up to ₹ 78 thousand by the end of the year

Gold reached its all-time high today i.e. on 16 October. According to India Bullion and Jewelers Association (IBJA), the price of 10 grams of 24 carat gold increased by Rs 572 to Rs 76,502. A day before this, its price was Rs 75,930 per ten grams.

At the same time, the price of silver also increased today. It increased by Rs 1,454 to Rs 91,254 per kg. A day before this, silver was at Rs 89,800. This year, silver has reached its all-time high of Rs 94,280 per kg on May 29.

Gold price in 4 metros and Bhopal

Keep these 3 things in mind while buying gold

1. Buy only certified gold Always buy certified gold bearing the hallmark of Bureau of Indian Standards (BIS). There is a 6 digit hallmark code on gold. This is called Hallmark Unique Identification Number i.e. HUID. This number is alphanumeric i.e. something like this – AZ4524. Through hallmarking it is possible to find out how many carats a gold is.

2. Cross check the price Cross-check the correct weight of gold and its price on the day of purchase from multiple sources (such as the website of India Bullion and Jewelers Association). The price of gold varies according to 24 carat, 22 carat and 18 carat. 24 carat gold is considered to be the purest gold, but jewelery is not made from it because it is very soft.

3. Do not pay cash, take bill While buying gold, it is better to make payment through UPI (like BHIM app) and digital banking instead of cash payment. If you want, you can also make payment through debit or credit card. After this don't forget to take the bill. If you have ordered online then definitely check the packaging.

Gold can go up to Rs 78 thousand by the end of the year

According to Anuj Gupta, Commodity and Currency Head, HDFC Securities, gold and silver may see a rise in the coming days. This year gold can go up to Rs 78 thousand per 10 grams. At the same time, silver can also reach Rs 1 lakh per kg.

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