Gold and silver rates today hikes in Delhi, Chennai, Kolkata, Mumbai on 03 October 2020
Gold and silver rates today hikes in Delhi, Chennai, Kolkata, Mumbai on 03 October 2020
Gold and Silver rates today, 03 October: Gold rates on Saturday have gone up following the global rates. On MCX, the gold rates have increased by Rs. 120 to Rs. 52,990 while the silver rates are at Rs. 61,200. The gold rates have increased according to global markets where the investors had catched up the profits amid US stimulus bill.
In Delhi, the price of 22-carat gold down by Rs. 260 to Rs. 49,210 per 10 gm and that of 24 carat gold are up by Rs. 240 to Rs. 53,680 In Chennai, the gold rate was at Rs 48,380 with a hike of Rs. 110 per ten gram of 22-carat gold and that of 24 carat is at Rs. 52,780 with a hike of Rs. 110.
The gold rates in Kolkata has increased by Rs. 210 to Rs 49,770 per 10 gram of 22 carat and the rate of ten grams of 24 carat is at Rs. 52,680 with a hike of Rs. 210. In Mumbai, the gold rates have been at Rs. 49,300 and Rs. 50,300 per ten grams of 22 carat and 24 carat respectively with a hike of Rs. 400.
| City | 22 carat Gold (10gms) | 24 carat Gold (10gms) | silver (1kg) |
| Delhi | Rs. 49,210 | Rs. 53,680 | Rs.61,200 |
| Chennai | Rs. 48,380 | Rs. 52,780 | Rs.61,200 |
| Kolkata | Rs. 49,770 | Rs. 52,680 | Rs 61,200 |
| Mumbai | Rs. 49,300 | Rs. 50,300 | Rs.61,200 |
How many times gold rates change in a day?
As the yellow metal gold is traded at Multi Commodity Exchange where the gold rates change at every moment in the business times. The price alter is mainly due to various factors such as political and economical issues happening in the world. Amid disputes between countries, and demand and supply etc may trigger changes in the prices at every minute. Gold rates vary across India, the second-largest consumer of the metal, due to excise duty, state taxes, and making charges.
How Gold rate is calculated?
As there is no specific measure for the gold and the prices differ from jeweller to jeweller. Final price of the jewellery = Price of gold X (Weight in grams) + Making charges + GST at 3% on
(Price of jewellery + making charges)
Making charges vary depending on the style of the ornament you require as it takes time and work while machine-made jewellery costs less than man-made ones. Gold is regarded as a safe investment-asset and acts as a good hedge against inflation. It has become the go-to-investment-avenue for millions of investors.