Gold Prices Hike Due to Higher Demand for Jewellery and Investment

The purity of gold is measured in karats, with each karat representing a certain percentage of gold content. For example, 24K gold contains 99.9% gold, making it the purest form but too soft for jewellery.

On the other hand, 22K gold is the standard for traditional Indian jewellery and contains 91.6% gold. It's alloyed with other metals to increase its durability. Other karat values like 18K and 14K also contain less gold but offer greater strength.

The daily gold rate you see online is just a benchmark, and the final showroom price will always be higher due to making charges, GST, and stone deductions in studded jewellery.

For investors who want to buy gold without the hassle of physical storage or making charges, there are alternatives like digital gold, Gold ETFs & Mutual Funds, and Sovereign Gold Bonds (SGBs). These options offer a fixed annual interest rate on top of standard gold price appreciation.