Gold and silver rates today slashes in Bangalore, Hyderabad, Kerala, Visakhapatnam on 15 September 2020

Gold and silver rates today, 15 September 2020: The gold rateshave been on increasing side from the last week in the Indian markets following the prices global prices on Tuesday. On MCX, gold futures have hiked by Rs. 90 to Rs. 52,900 per 10 gram while silver futures have also been on increasing side with a surge of Rs. 400 to Rs.68,300 per kg. Going by the global markets, the increase in dollar price and spurt in coronavirus cases have effected the prices and incurred losses with spot gold down by approximately 0.2 per cent at $1928 per ounce. The weak prices in the Asian countries is maiy due to the less demand from the consumers as they have been effected financially. However, the investors believe that the Gold tends to benefit from stimulus measures from central banks. However, going by the gold rates per the day, here are the rates.

The Gold rates in Bangalore have surged today after being stable for last couple of days. Going by the prices on Tuesday, gold rate per ten grams of 22 carat priced at 48,500 with a hike at Rs. 90 and per ten grams of 24 carat is at Rs. 52,900 with an increase of Rs. 90.

The gold rates in Hyderabad on Tuesday surged by Rs. 160

to Rs 49,070 per ten grams of 22 carat and the gold rate of 24 carat is at 53,530 with Rs. 180 hike. In Kerala, gold rate have been at Rs 47,400 per ten gram of 22 carat while ten grams of 24 carat gold at Rs. 51,710 with a surge of Rs. 140 and Rs. 150.

The gold rates Visakhapatnam of Andhra Pradesh have been at Rs. 48,070 and Rs. 53,530 per ten grams of 22 carat and 24 carats with a hike of Rs. 10.

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. Gold returned over 25 percent return in seven months to its investors in 2020.