Gold Dips While Silver Rises in India on October 5
Gold prices in India dropped by Rs 353 per 10 grams on October 5, bringing the rate to approximately Rs 1.48 lakh, while silver prices surged by Rs 2,105 per kilogram, reaching around Rs 2.23 lakh. The data is based on rates cited from the India Bullion and Jewellers Association (IBJA).
September saw a significant decline in gold prices, with a fall of around Rs 8,000 from August 31 to September 30. Silver also experienced a decrease, dropping from around Rs 2.37 lakh to Rs 2.20 lakh per kilogram during the same period.
Experts suggest that gold and silver prices may remain volatile in the near term due to factors like market conditions, interest-rate decisions, geopolitical developments, and investor demand. Gold is often seen as a safe-haven asset during economic or geopolitical uncertainty, which can influence its price.
Consumers planning to buy gold jewellery should check the purity and current price before making a purchase. The Bureau of Indian Standards (BIS) hallmark is a reliable indicator of gold purity. For silver, buyers should seek verification from reputable jewellers or authorised testing facilities, as common home tests are not conclusive.