As Akshaya Tritiya approaches, the bullion market maintains its bullish momentum, witnessing a steady rise in gold and silver prices. In Varanasi, Uttar Pradesh, on Wednesday, May 8th, the price of 22-carat 10-gram gold surged by Rs 300, reaching Rs 66,500, up from Rs 66,200 the previous day.

Similarly, the price of 18-carat gold saw an increase of Rs 250, reaching Rs 54,410 on Wednesday, while 24-carat gold reached Rs 71,820 after a jump of Rs 330. Rupendra Singh Juneja, a bullion businessman in Varanasi, highlighted that the continuous surge in gold and silver prices is impacting the market, leading to a subdued atmosphere in the bullion market. Experts anticipate that gold prices will continue to rise in the coming days.

Silver prices also witnessed a significant increase, with a jump of Rs 1000 per kilogram on May 8th, reaching Rs 85,000. Just a day earlier, on May 7th, silver was priced at Rs 84,000 per kilogram, indicating a rapid increase of Rs 2000 per kilogram in just 48 hours.

It's essential for buyers to pay attention to the hallmark when purchasing gold, as it serves as a government guarantee of purity. Gold without a hallmark should be avoided, as the Bureau of Indian Standards (BIS) determines the hallmark, indicating the purity of the gold. With fluctuating prices influenced by taxes and excise duties, buyers must exercise caution and ensure the authenticity of their purchases during this period of heightened market activity.