Gold and silver prices today fell slightly in Bangalore, Hyderabad, Kerala, Visakhapatnam, 9 August 2020

Gold and Silver prices today, 9 August, 2020: After a consistent rise in the prices for the last half month, the Gold and silver prices on Sunday sees a decline at major cities, which has become a sigh of relief as the wedding season is due to end in this week. On MCX, Gold futures have decreased by Rs. 350to Rs. 57,250 while the silver also slashed hugely by Rs. 2310 to Rs. 74,200. 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 declined by Rs. 320 to Rs. 52,480 and ten gram of 24-carat gold also decreased by Rs. 350 to 57,250 respectively.

The gold prices in Hyderabad have decreased by Rs. 400 per ten grams of 22 carats to Rs. 53,800 while the price of 24 carats is at Rs. 58,690 with a fall of Rs. 440. The gold prices in Kerala remained stable at Rs. 52,510 and rate of ten grams of 24 carats at Rs. 57,280 without change.

The gold rates in Visakhapatnam have stood at Rs. 53,800 and Rs. 58,690 per ten grams of 22 carat and 24 carats with a hike of Rs. 400 and Rs. 440.