Gold prices today slashes while Silver surges in Hyderabad, Bangalore, Kerala, Visakhapatnam 21 July 2020

Gold and Silver prices today, 21 July 2020: Gold prices on Tuesday fell sharply and silver prices have rose. On MCX, Gold futures have decreased by Rs. 60 to Rs. 50,560 while the silver has surged by Rs. 240 to Rs. 53,150 on Tuesday. The MCX is nothing but the 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 the measure of purity of gold, it is a measured in carats. There are three type of carat, 24 carat, 22 carat and 18 carat. The 24 carat gold consists of total 24 part gold where as 22 carat contains 22 parts gold and 2 parts other elements line copper 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 per cent pure while the 22 carat constitute 91.67 percent pure. Keeping them aside lets have a look at the rates for the day at four major centres.

The gold prices in Bangalore per ten grams of 22 carat slashed by Rs. 60 to Rs. 46,360 and Rs. 50,560 per ten gram of 24-carat gold respectively.

In Hyderabad, the gold prices have decreased by Rs. 90 per ten grams of 22 carats to Rs. 46,950 while the price of 24 carats remained at Rs. 51,240 with a hike of Rs. 90. The gold prices in Kerala decreased by Rs. 10 to Rs. 45,750 and rate of ten grams of 24 carats also stable at Rs. 49,900 with a fall of Rs. 10.

The gold rates in Visakhapatnam have stood at Rs. 46,950 and Rs. 51,240 per ten grams of 22 carat and 24 carats.