Gold and silver rate slips in Bangalore, Hyderabad, Kerala, Vizag today - 1 April 2020

Gold prices continue to decline in domestic markets on Wednesday extending their recent fall. On the other hand, silver futures had tumbled a little kg. The fall in gold prices has been attributed to increasing cases of Coronavirus and lockdown in the country.

The gold rates in Bangalore also there is a fall in rates. The rate of ten gram of 22 carat slips by a small margin of Rs. 10 to Rs. 38,840 and rate of ten gram of 24 carat is slipped by Rs.5 to Rs 43,090.

The gold rates in cosmopolitan city Hyderabad also tumble by Rs 10 for both 22 carat and 24 carat gold by which the rates are tagged at Rs. 39,510 and Rs. 43,160 respectively.

In Kerala as well, the gold consumption is pretty well and rates have seen a fall of Rs. 12 per ten grams of 22 carat by which the rate is tagged at Rs 38,760 while the 24 carat gold price also reduced by Rs. 7 to 43,000 respectively.

While in Visakhapatnam of Andhra Pradesh, the rate of ten gram of 22 carat gold is reduced by Rs. 10 to 39,510 and that ten gram of 24 carat is cut down by Rs. 10 to Rs. 43,260.

The silver prices across the country cut down by Rs.40 to Rs. 39,480.

There are many factors that affect the gold price such as Inflation, global market price changes, gold reserves at the central banks, interest rates, jewelery market and trade wars.