Gold and silver rates in Bangalore, Hyderabad, Kerala, Vizag today - 2 April 2020

Gold prices continue to fall in domestic markets for the third consecutive day on Thursday, April 2. On the other hand, silver rates have gone up by Rs. 460. The fall in gold prices has been attributed to increasing cases of Coronavirus and lockdown in the country.

Looking at the prices at all metro cities in the country, gold rates have followed the same trend in all areas. Going by the prices, the gold rates in Bangalore declined by Rs. 65 per ten grams of 22 carat gold making the rate to Rs.38,775 and the rate of ten-gram of 24 carat also slipped by Rs. 80 to Rs.43,010.

While in the cosmopolitan city Hyderabad, the gold futures tumbled by Rs. 70 per ten gram of 22 carats to Rs. 39,440 and the cost of ten-gram of 24-carat gold is reduced by Rs. 80 to Rs. 43,080.

In Kerala as well, the gold consumption is pretty well and rates have seen a fall of Rs. 60 per ten grams of 22 carats by which the rate is tagged at Rs 38,700 while the 24 carat gold price also reduced by Rs. 80 to Rs. 42,920 respectively.

While in Visakhapatnam of Andhra Pradesh, the rate of ten-gram of 22-carat gold is reduced by Rs. 70 to 39,440 and that ten grams of 24 carats is cut down by Rs.80 to Rs. 43,080.

The silver prices across the country gone up by Rs.460 to Rs. 39,940.

There are many factors that affect the gold price such as Inflation, global market price changes, gold reserves at the central banks, interest rates, jewelry market and trade wars.