Gold and silver rates today sees a dip in Bangalore, Hyderabad, Kerala, Visakhapatnam 8 October 2020
Gold and silver rates today sees a dip in Bangalore, Hyderabad, Kerala, Visakhapatnam 8 October 2020
Gold and Silver rates today, 8 October: Gold rates on Thursday have slashef after a surged on Wednesday. On MCX, the gold rates have decreased by Rs. 570 to Rs. 51,680 while the silver decreased by Rs. 1800 to Rs. 60,200. The gold rates have increased following the global markets wherein the investors eyed to catch up the profits with US stimulus bill. Gold jewellery prices 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. 47,380 per 10 gm with a fall of Rs. 520 and that 24 carat gold is down by Rs. 570 to Rs. 51,680 In Hyderabad, the gold rate was at Rs 48,050 with a slash of Rs. 400 per ten gram of 22 carat gold and that of 24 carat is at Rs. 52,410 with a fall of Rs. 440.
The gold rates in Kerala are at Rs 46,500 per 10 gram of 22 carat with a fall of Rs. 350 and the rate of ten grams of 24 carat is at Rs. 50,750 with a dip of Rs. 350. While in Visakhapatnam, the gold rates have followed the Hyderabad trends with Rs. 48,050 and Rs. 52,410 per ten grams of 22 carat and 24 carat .
| City | 22 carat Gold (10gms) | 24 carat Gold (10gms) | silver (1kg) |
| Bangalore | Rs. 47,380 | Rs. 51,680 | Rs.60,200 |
| Hyderabad | Rs. 48,050 | Rs. 52,410 | Rs.60,200 |
| Kerala | Rs. 46,500 | Rs. 50,750 | Rs 60,200 |
| Vizag | Rs. 48,050 | Rs. 52,410 | Rs.60,200 |
.respectively.
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.