Gold and silver rates today slashes in Bangalore, Hyderabad, Kerala, Vizag - 22 April 2020

Gold rates today 22 April 2020: Gold prices in Indian markets have continued to fall for the second day due to a decline in global rates. After hitting a record high in the past week, the gold futures have reduced on Wednesday. Going by the gold rates at all major cities, in the Silicon city Bangalore, the yellow metal slipped slightly by Rs. 50 per ten gram of 22 carat taking the gold rate to Rs. 39,650 while the ten-gram of 24 carat is also slashed by Rs. 50 making it to Rs. 42,850

In Hyderabad markets, the rates have seen a fall of Rs. 30 per ten gram of 22 carat to Rs. 40,400 and ten gram of 24 carat gold also fell by Rs. 20 taking the rate to Rs. 44,100.

While in Kerala, the cost of ten gram of 22 carat gold is decreased by Rs. 30 to 38,800 and the ten gram of 24 carat gold is decreased by Rs. 30 to Rs. 42,850 in Kerala

The gold rates at Visakhapatnam as usually follows the Hyderabad trends and the rate of ten grams of 22 carat reduced by Rs. 30 to Rs. 40,400 and Rs. 20 reduced by Rs. 44,100 per ten gram of 24 carat respectively. On the other hand, silver is reduced by Rs. 1050 to Rs. 41,650.

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