Gold rates today fell in Delhi, Chennai, Kolkata, and Mumbai, 25 August 2020

Gold rates today, 25 August 2020: Gold rates have decreased at all metro cities on Tuesday. On MCX, Gold futures have been trading at Rs 53,670 while the silver also slashed by Rs. 410 to Rs. 66,700 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.

Gold rates vary across India, the second-largest consumer of the metal, due to excise duty, state taxes, and making charges.

Gold rates in Delhi have decreased by Rs. 300 per ten gram of 22 carat and 24 carat gold respectively taking the prices to Rs. 50,710 and Rs. 55,320 with a decrease of Rs. 310.

In Chennai, the gold rates have increased sharply by Rs. 460 to Rs. 50,030 per ten grams of 22 carat while the gold rate of ten grams of 24 carat also decreased by Rs. 410 to Rs. 54,580

Gold rates in Kolkata, stood at Rs. 51,110 per ten grams of 22 carat with a fall of Rs. 320 and Rs. 320 decreased per ten gram of 24 carat gold to 53,820. The gold rates in Mumbai the commercial capital have decreased by Rs. 240 for both 22 carats and 24-carat gold taking the prices to Rs. 50,720 and Rs. 51,720.