Today, April 3, was the all-time high for gold and silver prices. The India Bullion and Jewelers Association (IBJA) website states that during trade, 10 grams of gold increased in price by Rs 295 to Rs 69,256. The price of gold has risen by Rs 5,954 in just three months so far this year. Gold was trading at Rs. 63,302 on January 1.

Today has also seen an all-time high for silver. It increased in price by Rs 1,537 to Rs 77,664 per kg. It was formerly Rs. 76,127. On December 4 of last year, silver reached an all-time high of 77,073.
Four explanations for gold's increase:

Fear of a global economic downturn in 2024
The wedding season raised demand for gold.
Globally, central banks are purchasing gold.
There is still geopolitical friction.
In March, the price of gold increased by more than 4,000 rupees.
The price of gold increased dramatically in the most recent month, March. Gold's price per gram was Rs 62,592 on March 1 and Rs 67,252 on March 31. This indicates that in March, its price was up by Rs 4,660. The price of silver also rose at the same time, from Rs 69,977 to Rs 74,127 per kg.

Gold can fetch as much as Rs 72,000.
Experts in the market predict that gold prices will likely climb in the upcoming days. As a result, the price of gold may reach Rs 72 thousand for every 10 grams by the end of the year. Moreover, silver might get up to Rs 75,000 per kilogram at the same time.

Purchase certified gold at all times.
Purchase only certified gold that has the Bureau of Indian Standards (BIS) hallmark. As of April 1, gold sales will be prohibited under the new regulation if the hallmarking is not six-digit alphanumeric. Similar to how the Aadhaar card has a 12-digit code, gold will also get a 6-digit hallmark code. This is known as the HUID, or Hallmark Unique Identification Number.

This number may be written in alphanumeric characters, such as AZ4524. The amount of gold in a piece can now be determined via hallmarking.

all time high
all time high

At a record high, gold reached ₹ 69 thousand for the first time, while silver reached an all-time high of ₹ 77,664 as well.