Gold and silver rates today hikes slightly in Bangalore, Hyderabad, Kerala, Visakhapatnam 13 October 2020
Gold and silver rates today hikes slightly in Bangalore, Hyderabad, Kerala, Visakhapatnam 14 October 2020
Gold and Silver rates today, 13 October: Gold rates on Tuesday in Indian domestic markets have increased slightly following the global rates. On MCX, the gold rates have increased by Rs. 50 to Rs. 52,530 while the silver increased by Rs. 890 to Rs. 63,800 Gold rates vary across India, the second-largest consumer of the metal, due to excise duty, state taxes, and making charges. Here are the yellow metal prices at different cities.
In Bangalore, the price of 22-carat gold is at Rs. 48,150 per 10 gm with a hike of Rs. 40 and that of 24-carat gold is hiked by Rs. 50 to Rs. 52,530. In Hyderabad, the gold rate was at Rs 48,870 with a surge of Rs. 50 per ten gram of 22-carat gold and that of 24 carat is at Rs. 53,310 with a hike of Rs. 60.
The gold rates in Kerala are at Rs 47,250 per 10 gram of 22 carat with a fall of Rs. 10 and the rate of ten grams of 24 carat is at Rs. 51,550 with a fall of Rs. 10. While in Visakhapatnam, the gold rates have followed the Hyderabad trends with Rs. 48,870 and Rs. 53,310 per ten grams of 22 carat and 24 carat respectively.
| City | 22 carat Gold (10gms) | 24 carat Gold (10gms) | silver (1kg) |
| Bangalore | Rs. 48,150 | Rs. 52,530 | Rs.63,800 |
| Hyderabad | Rs. 48,870 | Rs. 53,310 | Rs.63,800 |
| Kerala | Rs. 47,250 | Rs. 51,550 | Rs 63,800 |
| Vizag | Rs. 48,870 | Rs. 53,310 | Rs.63,800 |
How many times gold rates change in a day?
As the yellow metal gold is traded at Multi Commodity Exchange where the gold rates changes 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.