Gold prices today slashes in Delhi, Chennai, Kolkata, and Mumbai, 16 August 2020

Gold prices today, 16 August 2020: Gold prices, which have been on increasing has seen a fall from last four days however, the prices of yellow metal are fluctuating day by day. On Sunday, the gold prices have seen a fall. On MCX, Gold futures decreased by Rs. 200 to Rs 54,180 while the silver has also surged by Rs. 1050 to Rs. 68,000 today. 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. .

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. 51,150 per ten grams of 22 carat with a hike of Rs. 10 and the price of ten grams of 24 carat is at 55,900 with a fall of Rs. 10. While in Chennai, the gold prices stood at Rs. 51,000 per ten grams of 22 carats and ten grams of 24 carats remained at Rs. 55,650 with a fall of Rs. 110.

In Kolkata, the yellow metal has stood at Rs. 51,750 per ten grams of 22 carat with a fall of Rs. 240 and Rs. 54,440 per ten gram of 24 carat with a fall of Rs. 240. The gold prices in the commercial capital Mumbai have hiked by Rs. 20 for both 22 carats and 24-carat gold taking the prices to Rs. 51,220 and Rs. 52,220.