Gold and silver rates today surges in Bangalore, Hyderabad, Kerala, Vizag - 18 May 2020

Gold and silver rates today 18 May 2020: Gold and silver rates in India moved higher for the fourth consecutive day in a row, edging closer to record highs. On MCX, June gold futures rose 0.3% to about ₹47,600 per 10 gram. Silver rates on MCX futures rose by Rs. 10 to Rs. 46,710 per kg.

While in global markets, gold rates edge higher amid expectations of more stimulus from governments and central banks. US China tensions also boosted the safe-haven appeal of gold. Gold likely to benefit from widespread stimulus measures as it is often seen as a hedge against inflation and currency debasement.

Going by the gold rates at metro cities, the gold rates have surged in silicon city Bangalore by Rs. 10 per ten grams of 22 carat to 44,710 and the 24 carat gold for same quantity has gone up by Rs. 10 taking the total price to maximum of Rs. 48,770.

The price of yellow metal in Hyderabad have also increased Rs. 10 to Rs. 45,470 per ten gram of 22 carat and Rs. 10 increased for the ten gram of 24 carat gold taking the price to Rs. 48,540.

While in Kerala, the gold rates have followed the upward trend by Rs. 10 per ten gram of 22 carat and Rs. 10 per ten gram of 24 carat gold respectively. With this the gold rates have stood at Rs. 43,510 for 22-carat gold and Rs. 47,460 for 24-carat gold respectively.

In the sea city Visakhapatnam, the same trends followed with a hike in price of Rs. 10 to Rs. 45,470 per ten gram of 22 carat while the ten gram of 24 carat gold is at Rs. 48,540 with a hike of Rs. 10.