Gold Price Today 16th October 2020: There is a big change in the gold-silver rate in bullion markets today. Today i.e. on 16 October, 24-carat gold opened at Rs 50798 with a rise of Rs 135 per 10 gram in bullion markets across the country. At the same time, there has been a big jump of Rs 1149 in the spot price of silver. Silver today has reached Rs. 61308 per kg.
Also read: Last chance to buy cheap gold from Modi government today
According to the India Bullion and Jewelers Association website (ibjarates.com) on 16 October 2020, the gold and silver spot prices across the country were as follows…
|Metal||Rate of 17 October (Rs / 10g)||Rate of 16 October (Rs / 10g)||
Rate change (Rs / 10g)
|Gold 999 (24 carat)||50798||50663||135|
|Gold 995 (23 carat)||50595||50460||135|
|Gold 916 (22 carat)||46531||46407||124|
|Gold 750 (18 carat)||38099||37997||102|
|Gold 585 (14 carat)||29717||29638||79|
|Silver 999||61308 Rs / Kg||60159 Rs / Kg||1149 Rs / Kg|
IBJA rates are recognized nationwide
Explain that the rate issued by IBJA is universally accepted. However, GST has not been included in the rate given on this website. When buying and selling gold, you can refer to the rate of IBJA. According to the India Bullion and Jewelers Association, ibja collects gold and silver current rates from 14 centers across the country and gives an average price. The current rate of gold-silver or, say, the spot price may be different at different places, but there is a slight difference in their prices.