Gold and silver rates surge in Bangalore, Hyderabad, Kerala, Vizag today - 3 April 2020

Gold prices, which traded lower in the last two days has suddenly spiked up despite the meagre demand. Though there is wary over investment on gold, the rates have been raised on Friday, April 3. On the other hand, silver rates have also jumped by Rs. 220.

Going by the prices at all metro cities in the country, gold rates have increased despite the businesses being shut across the country and increase in coronavirus cases. In the silicon city Bangalore, the gold rates have seen hike of Rs. 155 per ten gram of 22 carat gold making the rate to Rs.38,930 and the rate of ten gram of 24 carat also jumped up by Rs. 170 to Rs. 43,180.

While in the cosmopolitan city Hyderabad, the gold futures gone up by Rs. 290 per ten gram of 22 carat to Rs. 39,730 and the cost of ten gram of 24 carat gold is moved up by Rs. 190 to Rs. 43,270.

In Kerala as well, the gold consumption is pretty well and rates have seen a increased Rs. 160 per ten grams of 22 carat by which the rate is tagged at Rs 38,860 while the 24 carat gold price also increased by Rs. 180 to Rs. 43,100 respectively.

While in the port city Visakhapatnam of Andhra Pradesh, the rate of ten gram of 22 carat gold is increased by Rs. 290 to 39,730 and that ten gram of 24 carat is cut down by Rs. 170 to Rs. 43,270.

The silver prices across the country gone up by Rs. 220 to Rs. 40,160

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.