18 carat gold price today : Due to the tremendous rise in the prices of gold in the last few years, this precious metal is gradually becoming out of reach of the common man. But even today gold jewelery is quite popular in weddings. In such a situation, now people are going towards 18 carat gold jewelery instead of 22 carat gold jewellery. Demand for 18 carat gold jewelery in 2024 has increased by 25% year-on-year. According to people associated with the industry, young customers are giving more preference to 18 carat rose gold because it is affordable.
How much is the price difference?
On Wednesday, the price of 18 carat gold closed at Rs 59,120 per 10 grams. Whereas the price of 22 carat gold was Rs 72,140 per 10 grams. There is a hallmark for both 18 and 22 carat gold jewellery. With this you can be free from worries related to purity. A hallmark is a unique identity. It is a six-character alphanumeric code issued to identify and track gold jewellery.
225 tonnes of 18 carat gold jewelery consumed
Rajesh Rokade, Chairman of All India Gem and Jewelery Domestic Council, said, ‘Indians will consume 225 tonnes of 18 carat gold jewelery in the year 2024. This is a jump of 25 percent compared to the year 2023. This increase in demand is quite high. Because earlier only 5-10% increase was seen. The total consumption of 22 carat gold in the country is between 500-550 tonnes annually. Consumption of 18 carat gold was 180 tonnes in 2023 and 162 tonnes in 2022.
Jewelery also available in 14 carat and 9 carat
Rokade further said, ‘The lower the carat, the stronger the jewellery. Therefore, jewelers are experimenting with new and modern designs, which are being easily purchased by the younger generation.” This trend has also been seen in South India, which is the largest gold consuming region in India. Many jewelers have started using 14 carat gold. And also launched jewelery in 9 carat gold.India Bullion and Jewelers Association has written a letter to the Bureau of Indian Standards demanding introduction of hallmarking in 9 carat gold.
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