Gold prices today surges while silver slashes in Hyderabad, Bengaluru, Kerala, Visakhapatnam 25 July 2020

Gold and Silver prices today, 25 July 2020: Gold prices on Saturday have continued to hike for the fourth consecutive day with s huge margin of around Rs. 500 and the silver prices have gone down by Rs. 950. On MCX, Gold futures have increased by Rs. 550 to Rs. 52,470 while the silver has slashed by Rs. 950 to Rs. 61,050.

What is MCX?

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.

What is Carat? How to Calculate Purity of Gold?

While coming to the measure of the purity of gold, it is measured in carats. There is three types of carat, 24 carats, 22 carats, and 18 carats. The 24-carat gold consists of total 24 part gold whereas 22 carat contains 22 parts gold and 2 parts other elements line copper to form the jewellery, 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 carats constitute 91.67 percent pure. Keeping them aside let's have a look at the rates for the day at four major centres.

The gold prices in Bangalore per ten grams of 22 carats surged by Rs. 480 to Rs. 48,100 and ten-gram of 24-carat gold also increased by Rs. 550 to 52,470 respectively.

In Hyderabad, the gold prices have increased by Rs. 640 per ten grams of 22 carats to Rs. 48,790 while the price of 24 carats is at Rs. 53,220 with a hike of Rs. 720. The gold prices in Kerala increased by Rs. 600 to Rs. 47,350 and rate of ten grams of 24 carats at Rs. 51,650 with a hike of Rs. 670.

The gold rates in Visakhapatnam have stood at Rs. 48,790 and Rs. 53,220 per ten grams of 22 carats and 24 carats with a hike of Rs. 640 and Rs. 720.