Gold Price In India: Gold prices today hikes in Delhi, Chennai, Kolkata, and Mumbai on 25 July 2020

Gold Price In India

Gold prices today, 25 July 2020: Gold prices have surged on Saturday. The prices of the yellow metal have increased for the fourth consecutive day. On MCX, Gold futures increased by Rs. 550 to Rs 50,750 while the silver has slashed by Rs. 950 to Rs. 61,050 today.

What is MCX?

The MCX is nothing but the Multi Commodity Exchange where the metal items are offered for trading such as gold, diamond, and non ferrous items just like the BSE for other commodities.

What is Carat? How to Calculate Purity of Gold?

While coming to the measure of the purity of gold, it is measured in carats. There are three types of carat, 24 carats, 22 carats, and 18 carats. The 24-carat gold consists of total of 24 part gold whereas 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 percent pure while the 22 carats constitute 91.67 percent pure. Keeping them aside let's have a look at the rates for the day at four major centers.

In the country's capital, Delhi, gold prices have been at Rs. 49,550 per ten grams of 22 carat and the price of 10 grams of 24 carat is at 50,750 with an increase of Rs. 550. While in Chennai, the gold prices increased by Rs. 640 making the price stood at Rs. 48,790 per ten grams of 22 carats and ten grams of 24 carats remained at Rs. 53,220 with an increase of Rs. 640 and Rs. 720.

In Kolkata, the yellow metal has stood at Rs. 50,000 per ten grams of 22 carat with a hike of Rs. 500 and per ten grams of 24-carat gold is at Rs. 51,400 with a hike of Rs. 500. The gold prices in the commercial capital Mumbai have seen an increase of Rs. 400 for both 22 carats and 24-carat gold taking the prices to Rs. 49,600 and Rs. 50,600.