Gold Price Today 11 May: Heavy fall in gold, see today’s rate here
Gold Price Today 11 May: On Wednesday, gold lost Rs 103 per gram, while silver saw a gain of Rs 84 per kg. Yellow metal is being sold at the rate of Rs 61500 per 10 grams and silver at the rate of Rs 76400 per kg.
Difference between 22 carat gold and 24 carat gold
- The main differences between 22 karat gold and 24 karat gold are given below:
- 22 carat gold is used in making jewellery, whereas 24 carat gold is not used.
22 carat gold is cheaper than 24 carat gold.
- 22K gold is 91.6% pure, while 24K gold is 99.9% pure.
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How is the rate of gold determined in Uttar Pradesh?
Some of the main factors that determine the gold rates in Uttar Pradesh are mentioned below:
Local factors such as fees and government charges.
The policies of the government affect the price of gold today.
When the demand for gold is high, the prices increase.
The increase in interest rates affects the prices of gold.
Reasons to buy gold in Uttar Pradesh
In Uttar Pradesh, gold is bought as an investment. People buy gold during festivals or weddings as it is considered auspicious. When compared to oil, gold is less volatile and is considered a safe haven when markets are down.
Gold Rate Trend in Uttar Pradesh for April 2023 Parameters
Gold Price (24K)
1st April rate Rs. 5,891 per gram
30 April rate Rs. 5,980 per gram
Highest rate in April Rs. 6,064 per gram on 14 April
The lowest rate in April is Rs. 5,859 per gram on 3 April
overall performance desire
percentage change 1.51%
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Frequently Asked Questions on Gold Rate in Uttar Pradesh
What is the difference between 24K gold and 22K gold?
24K gold is the most pure while 22K gold is slightly less pure. Jewelery made of 24K gold is difficult to make and use as it is soft and malleable. That is why 22 carat gold is used for making jewellery.
What factors affect the gold price in India?
Gold prices in India depend on the prices of the yellow metal in international markets, inflation, economic stability, import costs and the value of the rupee against the dollar.
Why does the price of gold vary from place to place?
Various factors affecting the price of gold include high demand for the yellow metal and comparatively low supply, transportation expenses, policies and tariffs imposed by local governments, etc. Due to these factors, the price of gold varies from place to place.
What should I keep in mind before buying gold?
Some of the factors that you should consider while buying gold for yourself include the weight of the gold, the hallmark and the company that manufactures the gold. Make sure that you buy your gold from a reputed company only. These factors affect the price of gold and also determine the purity of the metal.
Is gold price the same in Uttar Pradesh as compared to other cities?
No, gold price in Uttar Pradesh would be different as compared to other cities due to local taxes and transportation cost