Gold and silver prices today declines in Bangalore, Hyderabad, Kerala, Visakhapatnam, 12 August 2020

Gold and Silver prices today, 12 August, 2020: Gold and silver prices continued to decrease on Wednesday at all major cities after a continuous rise for the last week. On MCX, Gold futures have decreased by Rs. 380 to Rs. 56,640 while the silver also slashed by Rs. 2650 to Rs. 72,500. MCX 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.

While coming to the measure of purity of gold, it is a measured in carats. There are three type of carat, 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 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 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.

The gold prices in Bangalore per ten grams of 22 carat has seen a decline by Rs. 380 to Rs. 51,870 and ten gram of 24-carat gold also decreased by Rs. 380 to 56,640 respectively.

The gold prices in Hyderabad have decreased by Rs. 440 per ten grams of 22 carats to Rs. 53,140 while the price of 24 carats is at Rs. 58,030 with a fall of Rs. 440. The gold prices in Kerala have decreased by Rs. 1520 per ten gram of 22 carat gold to Rs. 51,000 and rate of ten grams of 24 carats at Rs. 55,250 with a fall of Rs. 1520.

The gold rates in Visakhapatnam have stood at Rs. 53,140 and Rs. 58,030 per ten grams of 22 carat and 24 carats with a fall of Rs. 440.