Gold and silver prices today in Bangalore, Hyderabad, Kerala, Visakhapatnam 17 July 2020

Gold and Silver prices today, 17 July 2020: Gold and silver prices per 22 carat and 24 carat have rose sharply on Friday following the prices at international market. On MCX, Gold futures have increased by 0.1 percent to Rs. 47,180 while the silver has slashed by Rs. 200 to Rs. 52,800 on Friday. 

The gold prices in Bangalore have remained stable per ten grams of 22 carat at Rs. 46,500 and Rs. 50,700 per ten gram of 24-carat gold

In Hyderabad, the gold prices have increased by Rs. 50 per ten grams of 22 carats o Rs. 47,180 while the price of 24 carats remained at Rs. 51,470 with a hike of Rs. 180. The gold prices have remained stable at Rs. 45,850 and rate of ten grams of 24 carats also stable at Rs. 49,990

The gold rates in Visakhapatnam have stood at Rs. 47,180 and Rs. 51,470 per ten grams of 22 carat and 24 carats.

What is MCX?

However many don't know what the MCX is all about. The MCX is nothing but the Multi Commodity Exchange where the metal items are offered for trading such as gold, diamond, and none ferrous items just like the BSE for other commodities. MCX is the largest commodity exchange for gold and silver-based in Mumbai founded in the year 2003.

What is Carat?

While coming to what the carat is which is the measure of the purity of the gold. There are three types 24 carat, 22 carat, and 18 carat. The 24-carat gold consists of a total of 24 part gold whereas 22 carat contains 22 parts gold and 2 parts other elements to form the jewelry, while the 18 carat has 18 parts gold and 6 parts copper and other elements. The purity is calculated by dividing the carat by 24 and multiplying it with 100. The 24 carat home is said to be 100 percent pure while the 22 carat constitute 91.67 percent pure. Keeping them aside let's have a look at the rates for the day at four major centers.