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There are two types of gold traded in India, i.e, 24K and 22K. The first one is considered the purest form of gold with a purity of 99.99 per cent. It is too soft to be moulded into jewellery.
The price of gold is directly related to its purity. For instance, if the rate of 24K gold is ₹95,000 per 10 grams, then 22K gold should cost ₹87,083 (calculated as ₹95,000/24 × 22 ...
24-carat gold is more expensive than 22 carats and 18-carat gold as it is the purest form of gold. 24K gold is used for making gold coins, bars, etc. 22K gold is made for making jewellery, while ...