Gold and silver rates today slashes in Bangalore, Hyderabad, Kerala, Visakhapatnam on 22 September 2020
Gold and silver rates today slashes in Bangalore, Hyderabad, Kerala, Visakhapatnam on 22 September 2020
Gold and silver rates today, 22 September 2020: The gold rates have decreased in the Indian markets following the prices in global markets. On MCX, gold futures have seen a fall by Rs. 170 to Rs. 53,400 per 10 gram while silver futures have been at Rs. 67,000 per kg with a fall of 900. 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 slashed today by Rs. 180 per ten grams of 22 carat to Rs. 48,950 and per ten grams of 24 carat is at Rs. 53,400 with a decrease of Rs. 170.
The gold rates in Hyderabad slashed by Rs. 250 to Rs 49,340 per ten grams of 22 carat and the gold rate of 24 carat is at 53,820 with increase of Rs. 250. In Kerala, gold rate have been at Rs 47,700 per ten gram of 22 carat while ten grams of 24 carat gold at Rs. 52,040 without increase of Rs. 90 and Rs. 100.
The gold rates in Visakhapatnam of Andhra Pradesh have been at Rs. 49,340 and Rs. 54,820 per ten grams of 22 carat and 24 carats with a fall of Rs. 250.
| City | 22 carat Gold (10gms) | 24 carat Gold (10gms) | silver (1kg) |
| Bangalore | Rs. 48,950 | Rs. 53,400 | Rs.67,000 |
| Hyderabad | Rs. 49,340 | Rs. 53,820 | Rs.67,000 |
| Kerala | Rs. 47,700 | Rs. 52,040 | Rs.67,000 |
| Vizag | Rs. 49,340 | Rs. 53,820 | Rs.67,000 |
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.