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Gold and silver rates today declines in Delhi, Chennai, Kolkata, Mumbai on 02 October 2020

Gold and silver rates today declines in Delhi, Chennai, Kolkata, Mumbai on 02 October 2020
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Gold

Highlights

Gold rates on Friday have come down.

Gold and Silver rates today, 02 October: Gold rates on Friday have come down. On MCX, the gold rates have declined by Rs. 120 to Rs. 52,89 while the silver also rallied by Rs. 200 to Rs. 61,200. The gold rates have increased inline with global markets where the investors have catch up the profits amid US stimulus bill.

In Delhi, the price of 22-carat gold down by by Rs. 240 to Rs. 48,960 per 10 gm and that of 24 carat gold is down by Rs. 240 to Rs. 53,430 In Chennai, the gold rate was at Rs 48,260 with a fall of Rs. 80 per ten gram of 22 carat gold and that of 24 carat is at Rs. 52,650 with a slash of Rs. 80.

City
22 carat Gold (10gms) 24 carat Gold (10gms) silver (1kg)
Delhi Rs. 48,960 Rs. 53,430 Rs.61,200
Chennai Rs. 48,260 Rs. 52,650 Rs.61,200
Kolkata Rs. 49,570 Rs. 52,480 Rs 61,200
Mumbai Rs. 48,910 Rs. 49,910 Rs.61,200

The gold rates in Kolkata has decreased by Rs. 160 to Rs 49,570 per 10 gram of 22 carat and the rate of ten grams of 24 carat is at Rs. 52,480 with a fall of Rs. 160. In Mumbai, the gold rates have been at Rs. 48,910 and Rs. 49,910 per ten grams of 22 carat and 24 carat respectively with a fall of Rs. 40.

How many times gold rates change in a day?

As the yellow metal gold is traded at Multi Commodity Exchange where the gold rates changes at every moment in the business times. The price alter is mainly due to various factors such as political and economical issues happening in the world. Amid disputes between countries, and demand and supply etc may trigger changes in the prices at every minute. Gold rates vary across India, the second-largest consumer of the metal, due to excise duty, state taxes, and making charges.

How Gold rate is calculated?

As there is no specific measure for the gold and the prices differ from jeweller to jeweller. Final price of the jewellery = Price of gold X (Weight in grams) + Making charges + GST at 3% on

(Price of jewellery + making charges)

Making charges vary depending on the style of the ornament you require as it takes time and work while machine-made jewellery costs less than man-made ones. Gold is regarded as a safe investment-asset and acts as a good hedge against inflation. It has become the go-to-investment-avenue for millions of investors.

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