By Online Referendum | Published:
May 15, 2022 12:25 PM 2022-05-15T12: 25: 37 + 5: 30 2022-05-15T12: 29: 27 + 5: 30
The wedding season is also in full swing. However, gold and silver prices have been fluctuating steadily over the last few days.
According to the Good Returns website, 24 carat gold is trading at Rs 50,450 today. Today, the gold price has risen by Rs 220 compared to yesterday. The price of 22 carat gold is Rs 46,245.
The price of 1 kg of silver is trading at Rs 59,400.
What is special is that no government in the world decides the price of gold. There are no legal rules for setting prices. The price of gold depends solely on the international market. Exactly one hundred years ago, in 1919, five big bullion traders from London came together and started the method of fixing the price of gold.
London was ruled by the British at that time. Of those five, Rothschild was the wealthiest family at the time. The first price was 4.9375 British pounds per troy ounce. Now the question is how much is a troy ounce. In those days, gold was measured in terms of fish, hum and tola.