Gold and silver rates today slashes in Bangalore, Hyderabad, Kerala, Vizag - 2 May 2020

Gold and silver rates today 2 May 2020: The gold rates on Saturday have further slumped. On MCX June futures the yellow metal has approximately decreased by 0.36 percent to Rs. 45,250. On the other hand, the silver has reduced by Rs.1,520 to 41,000. The fall in prices is attributed to less demand amid lockdown. However, it has to be seen how the yellow metal would have impact in the wake of extension of lockdown for next two weeks.

In Bangalore city, the rate of the yellow metal has seen a fall of further Rs. 540 per ten grams of 22 carat taking the gold rate to Rs. 43,410 which is the 1.2 percent fall on MCX June futures. and the gold rate of 24 carat has declined by Rs. 500 to Rs.46,300.

Gold rates in Hyderabad are also affected by a slump in the rates. The rate of ten grams of 22 carat in Hyderabad decreased by Rs. 540 to Rs. 43,410 and while Rs. 500 decreased per ten grams of 24 carat to Rs. 46,200.

In Kerala, the cost of ten grams of 22-carat gold is down by Rs. 500 to 41,750 and the ten-gram of 24-carat gold is also down by Rs. 550 to Rs. 45,450.

The gold rates at Visakhapatnam have also slumped with Rs. 540 per ten grams of 22 carat to Rs. 43,410 and Rs. 500 declined grams of 24 carat 46,200 respectively.