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Gold and silver rates today hikes in Bangalore, Hyderabad, Kerala, Visakhapatnam 10 October 2020

Gold Rate Today in Hyderabad
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Gold and silver rates today hikes in Bangalore, Hyderabad, Kerala, Visakhapatnam 10 October 2020

Highlights

Gold and Silver rates today, 10 October: Gold rates have increased on Saturday following the global rates.

Gold and Silver rates today, 10 October: Gold rates have increased on Saturday following the global rates. On MCX, the gold rates have increased by Rs. 370 to Rs. 52,070 while the silver increased by Rs. 800 to Rs. 61,400. Gold jewellery prices vary across India, the second-largest consumer of the metal, due to excise duty, state taxes, and making charges. Here are the yellow metal prices in different cities.

In Bangalore, the price of 22-carat gold is at Rs. 47,730 per 10 gm with a hike of Rs. 330 and that of 24 carat gold is hiked by Rs. 370 to Rs. 52,070. In Hyderabad, the gold rate was at Rs 48,420 with a surge of Rs. 420 per ten gram of 22-carat gold and that of 24 carat is at Rs. 52,820 with a hike of Rs. 460.

The gold rates in Kerala are at Rs 46,950 per 10 gram of 22 carat with a hike of Rs. 450 and the rate of ten grams of 24 carat is at Rs. 51,220 with a hike of Rs. 480. While in Visakhapatnam, the gold rates have followed the Hyderabad trends with Rs. 48,420 and Rs. 52,820 per ten grams of 22 carat and 24 carat respectively.

City 22 carat Gold (10gms) 24 carat Gold (10gms) Silver (1kg)
Bangalore Rs. 47,730 Rs. 52,070 Rs.61,400
Hyderabad Rs. 48,420 Rs. 52,820 Rs.61,400
Kerala Rs. 46,950 Rs. 51,220 Rs 61,400
Vizag Rs. 48,420 Rs. 52,820 Rs.61,400

How many times gold rates change in a day?

As the yellow metal gold is traded at Multi Commodity Exchange where the gold rates change 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 changes.

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 works 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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