Gold prices today surges in Delhi, Chennai, Kolkata, and Mumbai on 19 July 2020

Gold prices today, 19 July 2020: Gold prices on Sunday per 22 carat and 24 carat have rose sharply with MCX, Gold futures increased by 0.2 percent to Rs 49,100 while the silver has surged by Rs. 600 to Rs. 52,900 today. Many wonder, what the MCX is about, which is nothing but the Multi Commodity Exchange where the metal items are offered for trading such as gold, diamond and none ferrous items just like the BSE for other commodities. The above mentioned MCX futures shows that it will trade at those prices.

While coming to what the carat is, it is the measure of purity of the gold. There are three type 24 carat, 22 carat and 18 carat. The 24 carat gold consists of total 24 part gold where as 22 carat contains 22 parts gold and 2 parts other elements 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 per cent pure while the 22 carat constitute 91.67 percent pure. Keeping them aside lets have a look at the rates for the day at four major centres.

In the country's capital, Delhi, gold prices have been at Rs 47,900 for ten gram of 22 carat and the price of 10 gram of 24 carat is at 49,100 with a increase of Rs. 200. While in Chennai, the gold prices increased by Rs. 180 making the price stand at Rs. 47,030 per ten grams of 22 carats and ten grams of 24 carats remained at Rs. 51,320 with an increase of Rs. 180

In Kolkata, the yellow metal has stood at Rs. 48,340 per ten grams of 22 carat and Rs. 49,920 per ten grams of 24 carat gold with a hike of Rs. 120. The gold prices in the commercial capital Mumbai have seen a increase of Rs. 500 for both 22 carats and 24-carat gold taking the prices to Rs. 47,950 and Rs. 48,950.