Gold and silver rates today increases in Bangalore, Hyderabad, Kerala, Vizag - 28 April 2020

Gold and silver rates today 28 April, 2020: The yellow metal has jumped heavily across the country amid lockdown imposed due to coronavirus outbreak. There are fluctuations in its prices for the last month. On Tuesday, gold rate has increased by a huge margin due to domestic demand. The gold rates in the futures market were seen rising. While the silver has seen a cut by Rs.400 per kg to 42,200

In Bangalore city, the yellow metal continued to surge by Rs. 2560 per ten gram of 22 carat taking the gold rate to Rs. 44,740 while the ten gram of 24 carat is also hiked by Rs. 2,000 making it to Rs. 47,300.

Gold prices in Hyderabad are affected due to many reasons such as global production, current market conditions, strength of currency, etc. rate of ten gram of 22 carat in Hyderabad rose by Rs. 2120 to Rs. 44,740 and Rs. 970 increased per ten gram of 24 carat to Rs. 46,900.

In Kerala, the cost of ten gram of 22 carat gold is increased by Rs. 630 to 42,150 and the ten gram of 24 carat gold is hiked by Rs. 1,080 to Rs. 46,150.

The gold rates at Visakhapatnam have also jumped hugely. The rate of ten grams of 22 carat surged by Rs. 2120 to Rs. 44,740 and Rs. 970 hiked per ten gram of 24 carat 46,900 respectively.

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.