Gold and silver prices today surges in Bangalore, Hyderabad, Kerala, Visakhapatnam 22 July 2020

Gold and Silver prices today, 22 July 2020: Gold prices on Wednesday have hiked after a fall for the last two days and the silver prices have also rose hugely. On MCX, Gold futures have increased by Rs. 150 to Rs. 50,710 while the silver has surged by Rs. 2250 to Rs. 55,400. 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.

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 surged by Rs. 150 to Rs. 46,510 and Rs. 50,710 per ten gram of 24-carat gold respectively.

In Hyderabad, the gold prices have increased by Rs. 140 per ten grams of 22 carats to Rs. 47,090 while the price of 24 carats is at Rs. 51,370 with a hike of Rs. 130. The gold prices in Kerala increased by Rs. 200 to Rs. 45,950 and rate of ten grams of 24 carats at Rs. 50,150 with a hike of Rs. 250.

The gold rates in Visakhapatnam have stood at Rs. 47,090 and Rs. 51,370 per ten grams of 22 carat and 24 carats with a hike of Rs. 140 and Rs. 130.