Gold and silver prices today surges sharply in Bangalore, Hyderabad, Kerala, Visakhapatnam 20 July 2020

Gold and Silver prices today, 20 July 2020: Gold and silver prices per 22 carat and 24 carat have rose sharply on Monday. On MCX, Gold futures have increased by Rs. 10 to Rs. 50,620 while the silver has surged by Rs. 10 to Rs. 52,910 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.

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. 10 to Rs. 46,420 and Rs. 50,620 per ten gram of 24-carat gold respectively.

In Hyderabad, the gold prices have increased by Rs. 10 per ten grams of 22 carats to Rs. 48,040 while the price of 24 carats remained at Rs. 51,330 with a hike of Rs. 10. The gold prices have remained stable at Rs. 45,760 and rate of ten grams of 24 carats also stable at Rs. 49,910 with a home of Rs. 10.

The gold rates in Visakhapatnam have stood at Rs. 48,040 and Rs. 51,330 per ten grams of 22 carat and 24 carats.