Gold and silver prices today surges in Bangalore, Hyderabad, Kerala, Visakhapatnam 19 July 2020

Gold and Silver prices today, 19 July 2020: Gold and silver prices per 22 carat and 24 carat have rose on Sunday following the prices at international market. On MCX, Gold futures have increased by 0.2 percent to Rs. 50,610 while the silver has surged by Rs. 600 to Rs. 52,900 on Sunday. However many doesn'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.

While coming to the measure of purity of gold, it is a measured in carats. There are three type of carat, 24 carat, 22 carat and 18 carat. The 24 carat gold consists of total 24 part gold where as 22 carat contains 22 parts gold and 2 parts other elements line copper 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 per cent pure while the 22 carat constitute 91.67 percent pure. Keeping them aside lets have a look at the rates for the day at four major centres.

The gold prices in Bangalore per ten grams of 22 carat rose by Rs. at Rs. 46,410 and Rs. 50,610 per ten gram of 24-carat gold respectively.

In Hyderabad, the gold prices have increased by Rs. 180 per ten grams of 22 carats o Rs. 48,030 while the price of 24 carats remained at Rs. 51,320 with a hike of Rs. 180. The gold prices have remained stable at Rs. 45,750 and rate of ten grams of 24 carats also stable at Rs. 49,900 with a home of Rs. 100.

The gold rates in Visakhapatnam have stood at Rs. 48,030 and Rs. 51,320 per ten grams of 22 carat and 24 carats.