Gold and silver rates today hikes in Bangalore, Hyderabad, Kerala, Visakhapatnam 9 September 2020

Gold and silver rates today, 9 September 2020: The yellow metal edged higher today in Indian markets, with an increase in global rates. On MCX, gold futures hiked by 0.3 percent Rs. 52,670 per 10 gram while silver futures also fell by Rs. 100 to Rs.68,000 per kg. Going by the trends, the gold rates in the previous session,

have fallen by 0.5 percent in the last three days while silver futures had surged to maximum level. However, gold and silver rates have been choppy and came down from August highs.

Going by the global markets, the ring dollar price and spurt in coronavirus cases have effected the prices and incurred losses with spot gold down by approximately 0.2 per cent at $1928 per ounce. The weak prices in the Asian countries is maiy due to the less demand from the consumers as they have been effected financially. However, the investors believe that the Gold tends to benefit from stimulus measures from central banks. However, going by the gold rates per the day, here are the rates.

The Gold rates in Bangalore per ten grams of 22 carat priced at 48,300 per ten grams of 24 carat is at Rs. 52,670 with an increase of Rs. 150.

The gold rates in Hyderabad had remained steady on Wednesday without any change at prices of Rs 48,850 per ten grams of 22 carat and the gold rate of 24 carat also remained steady at 53,290. In Kerala, gold rate have been at Rs 47,000 per ten gram of 22 carat gold with a hike of Rs. 100 while ten grams of 24 carat gold at Rs. 51,300 with a hike of Rs. 100.

The gold rates Visakhapatnam of Andhra Pradesh have been at Rs. 48,850 and Rs. 53,290 per ten grams of 22 carat and 24 carats without change.

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. Gold returned over 25 percent return in seven months to its investors in 2020.