Gold prices today hikes in Delhi, Chennai, Kolkata, and Mumbai on 30 July 2020

Gold prices today, 30 July 2020: Gold prices in India surged on Thursday. On MCX, Gold futures increased by Rs. 250 to Rs 52,700. while the silver rate has also increased by Rs. 50 to Rs. 66,050 today.

What is MCX?

MCX is a Multi Commodity Exchange where the metal items are offered for trading such as gold, diamond, and none ferrous items just like the BSE for other commodities. The above mentioned MCX futures shows that it will trade at those prices.

What is Carat? & How to Calculate Gold Purity? 

While coming to what the carat is, it is the measure of the purity of the gold. There are three types 24 carats, 22 carat, and 18 carat. The 24-carat gold consists of total of 24 part gold whereas 22 carat contains 22 parts gold and 2 parts other elements to form the jewelry, while the 18 carat has 18 parts gold and 6 parts copper and other elements. The purity is calculated by dividing the carat by 24 and multiplying it with 100. The 24 carat home is said to be 100 percent pure while the 22 carat constitute 91.67 percent pure. Keeping them aside let's have a look at the rates for the day at four major centers.

In the country's capital, Delhi, gold prices have been at Rs. 51,500 per ten grams of 22 carat and the price of 10 grams of 24 carat is at 52,700 with an increase of Rs. 250. While in Chennai, the gold prices stood at Rs. 50,740 per ten grams of 22 carats and ten grams of 24 carats remained at Rs. 55,310 with an increase of Rs. Rs. 370.

In Kolkata, the yellow metal has stood at Rs. 51,720 per ten grams of 22 carat Rs. 53,120 per ten gram of 24 carat with a hike of 670. The gold prices in the commercial capital Mumbai have seen an increase of Rs. 640 for both 22 carats and 24-carat gold taking the prices to Rs. 51,400 and Rs. 52,400.