Tezzbuzz Desk- There is once again news of inflation for people preparing to buy gold during the wedding season. On Friday, a sharp rise in the prices of both gold and silver was recorded in the domestic market. Due to increasing tension in the international market and increasing demand for safe investments, the prices of precious metals are continuously going up.

The effect of rising gold prices is clearly visible in the major jewelery brands and bullion markets of the country. Big jewelers like Tanishq, Malabar Gold and Joyalukkas have also released new rates, in which there has been an increase compared to the previous day.

How much did gold become expensive for jewelery brands?

The price of 22 carat gold in Tanishq has increased to ₹ 14,495 per gram. Whereas in Joyalukkas and Malabar Gold, the price of 22 carat gold has been recorded at ₹ 14,450 per gram. In the last 24 hours, an increase of about ₹ 145 per gram has been seen.

24 carat gold at new high

According to India Bullion and Jewelers Association (IBJA), the price of 24 carat pure gold has reached ₹15,704 per gram. Whereas 22 carat gold is trading at ₹ 15,327 per gram and 18 carat gold is trading at ₹ 12,721 per gram.

Silver also showed momentum

Along with gold, the prices of silver have also increased significantly. According to the latest data, the price of silver has crossed ₹ 2.63 lakh per kg. In the last two days, silver prices have increased by more than ₹ 3,000.

Why are the prices of gold and silver increasing?

Experts say that due to increasing geopolitical tension in West Asia and global economic uncertainty, investors are turning towards safer investment options. At such a time, gold and silver are considered to be the most reliable investments, due to which both their demand and price are increasing.

Keep these things in mind before shopping

If you are planning to buy gold jewellery, then definitely compare the rates of different jewellers. Also take information about hallmark, making charges and GST, so that there is no problem at the time of purchase.