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Gold and silver rates today hikes in Delhi, Chennai, Kolkata, Mumbai on 05 October 2020

Gold rate today
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Gold and silver rates today hikes in Delhi, Chennai, Kolkata, Mumbai on 05 October 2020

Highlights

Gold and Silver rates today, 05 October: Gold rates on Monday have gone up following the global rates.

Gold and Silver rates today, 05 October: Gold rates on Monday have gone up following the global rates. On MCX, the gold rates have increased by Rs. 10 to Rs. 52,100 while the silver rates are at Rs. 61,210. The gold rates have increased according to global markets where the investors had catched up the profits amid US stimulus bill.

In Delhi, the price of 22-carat gold is gone up by Rs. 10 to Rs. 49,310 per 10 gm and that of 24 carat gold is up by Rs. 10 to Rs. 53,790 In Chennai, the gold rate was at Rs 48,510 with a hike of Rs. 10 per ten gram of 22 carat gold and that of 24 carat is at Rs. 52,910 with a hike of Rs. 10.

The gold rates in Kolkata is at Rs 49,780 per 10 gram of 22 carat and the rate of ten grams of 24 carat is at Rs. 52,690. In Mumbai, the gold rates have been at Rs. 49,410 and Rs. 50,410 per ten grams of 22 carat and 24 carat respectively with a hike of Rs. 10.

City
22 carat Gold (10gms) 24 carat Gold (10gms) silver (1kg)
Delhi Rs. 49,310 Rs. 53,790 Rs.61,210
Chennai Rs. 48,510 Rs. 52,910 Rs.61,210
Kolkata Rs. 49,780 Rs. 52,690 Rs 61,210
Mumbai Rs. 49,410 Rs. 50,410 Rs.61,210

What is Carat? and How purity of gold is measured?

While carat is measure of purity of gold. There are three types of carat, 24 carat, 22 carat and 18 carat. The 24 carat gold consists of total 24 parts 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.

Why the gold rates increase and when do they decrease?

Gold tends to increase when people prefer investing in gold due to the inflation and concerned about the risks in the financial system. The Investors to get out of risk are putting the money on gold despite the rate of interest is more on deposits. On the other hand, at times gold rates also decrease due to the fact that the fall in international markets, increase in dollar value and other tensions between the countries. Off late the gold prices have coming down due to the US China dispute.

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