Gold and silver once again showed bullish momentum. Similar to the previous week, the precious metals surged in the final session of the current week, enticing customers with their performance over two days. The shopping landscape has shifted, leading to increased costs for average consumers due to price hikes. Although neither metal reached a new peak in May following March and April, they have been consistently advancing on a weekly basis. Gold Coin Gold experienced a rally on Akshaya Tritiya last week, but the beginning of this week was lackluster.
Prices for gold dropped by Rs.100 on May 13th and further by Rs.400 on May 14th. However, a significant increase was observed on May 15, followed by a hike of Rs.770 on May 16th. As per Good Returns, the price of 22-carat gold now stands at Rs.68,000 per 10 grams, while 24-carat gold is priced at Rs.74,170 per 10 grams. Silver Surges by Rs.2600 Silver faced fluctuations on Akshaya Tritiya, undergoing a volatile week. The price of silver decreased by Rs.500 on May 13th, then rose by Rs.700 on May 14th.
May 15th witnessed a further increase of Rs.400, followed by a jump of Rs.1500 on May 16th. Silver recorded an overall increase of Rs.2600 in just three days, with one kilogram now priced at Rs.89,100, according to Good Returns. Price Variations by Carat As reported by the Indian Bullion and Jewelers Association (IBJA), the prices for various gold carats fluctuated. The rates for different carats are as follows : 24-carat gold at Rs.73,438, 23-carat gold at Rs.73,144, and 22-carat gold at Rs.67,269 per 10 grams.
Additionally, 18-carat gold rose to Rs.55,079, while 14-carat gold increased to Rs.42,961 per 10 grams. The price of one kilogram of silver climbed to Rs.86,230. Notably, while there are no taxes or duties on gold and silver in the futures and international markets, the inclusion of duties and taxes in the bullion market results in price discrepancies.
Historical Returns Over the past five years, gold has yielded an annual return of 18% for consumers and investors, outperforming the Nifty which saw an annual increase of nearly 15%. However, analyzing data for 1, 3, 10, and 15 years reveals that the Nifty has generally surpassed gold in performance. In the last seven years, both assets showcased similar returns, with the Nifty recording a 15% CAGR and gold showing a 14% gain.
