Gold fell by Rs 300.0 to Rs 48,730.0 per 10 grams. On August 5, the price had closed at Rs 49,030.0.
Silver was down by Rs 610.0 at Rs 610.0 per kg. The previous closing price was Rs 69,200.0 per kg.
When buying jewelry, take special care of hallmarks. Hallmarking guarantees that the item sold by the shopkeeper to the customer is of the same carat as the jewellery. Hallmarking is done under the Bureau of Indian Standards Act.
Hallmarking is the precise determination and official record of the proportionate content of that metal in precious metal materials. Hallmarking protects the interests of the buyers by helping them to identify the genuine and counterfeit gold. The prices of Na and Silver fluctuate constantly. Apart from jewellery, people buy gold and silver for investment purposes. When demand increases, the price of gold and silver increases.
India imports most of its gold from abroad. Therefore, the impact of global movements and fluctuations in the price of rupee against the dollar affects the gold and silver prices. India is the largest gold importer in the world. Gold is imported in large quantities from abroad to meet the demand of the jewelery industry. About 800-900 tonnes of gold is imported into India in a year.
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