Gold and silver rates today surges in Delhi, Chennai, Kolkata, Mumbai on 28 September 2020

Gold and silver rates today, 28 September 2020: The gold rates on Monday have increased in Indian markets. On MCX, gold futures have hiked by Rs. 10 to Rs. 51,390 per 10 gram while silver futures were at Rs. 59,000 per kg without change. The gold rates have been on the negative side from the last week except on Saturday due to the situation at global markets. The investors hope that the US dollar as the best haven as the financial markets have been prone to risk according to analysts. Hence the gold rates have trading on the negative side.

Meanwhile, the Gold rates in Delhi have seen a hike by Rs. 10 for per ten gram of 22 carat taking the price to 48,610 and per ten grams of 24 carat gold has also surged by Rs. 10 taking the price to Rs. 53,030.

In Chennai, the gold rates have increased by Rs. 10 to Rs. 47,820 per ten grams of 22 carat while the gold rate of ten grams of 24 carat has also hiked by Rs. 10 to Rs. 52,170

Gold rates in Kolkata, stood at Rs. 49,150 per ten grams of 22 carat and for ten gram of 24 carat is at Rs. 51,850 with a increase of Rs. 10. While the gold rates in Mumbai the commercial capital have witnessed a hike of Rs. 10 for both 22 carats and 24-carat gold taking the prices to Rs. 48,320 and Rs. 49,320.

Going by the global markets, the ring 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.

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 gram jewelry charges + GST at 3% on

(Price of jewellery + making charges). Making charges vary depending on the style of the ornament you require jewelry time and work while machine-made jewellery costs less than man-made ones. All in all, 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.