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Gold and silver rates today hikes in Delhi, Chennai, Kolkata, Mumbai on 26 September 2020

Gold Price today
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Gold and silver rates today hikes in Delhi, Chennai, Kolkata, Mumbai on 26 September 2020

Highlights

Gold and silver rates today, 26 September 2020: The gold rates on Friday have increased in Indian markets. On MCX, gold futures have fell by Rs. 360 to Rs. 51,580 per 10 gram while silver futures were at Rs. 59,050 per kg with an fall of Rs. 2050.

Gold and silver rates today, 26 September 2020: The gold rates on Friday have increased in Indian markets. On MCX, gold futures have fell by Rs. 360 to Rs. 51,580 per 10 gram while silver futures were at Rs. 59,050 per kg with an fall of Rs. 2050. Meanwhile, the Gold rates in Delhi have seen a increased by Rs. 460 for per ten gram of 22 carat taking the price to 48,810 and per ten grams of 24-carat gold has also hiked by Rs. 460 taking the price to Rs. 53,200.

In Chennai, the gold rates have increased by Rs. 510 to Rs. 48,010 per ten grams of 22 carat while the gold rate of ten grams of 24 carat has also increased by Rs. 510 to Rs. 52,380

Gold rates in Kolkata stood at Rs. 49,210 per ten grams of 22 carat and for ten gram of 24 carat is at Rs. 51,910 with a hike of Rs. 270. While the gold rates in Mumbai the commercial capital have witnessed a fall of Rs. 40 for both 22 carats and 24-carat gold taking the prices to Rs. 48,360 and Rs. 49,360.

City 22 carat Gold (10gms) 24 carat Gold (10gms) silver (1kg)
Delhi Rs. 48,810 Rs. 53,200 Rs.59,050
Chennai Rs. 48,010 Rs. 52,380 Rs.59,050
Kolkata Rs. 49,210 Rs. 51,910 Rs.59,050
Mumbai Rs. 48,360 Rs. 49,360 Rs.59,050

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.

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 gram jewelry charges + GST at 3% on (Price of jewellery + making charges). Making charges vary depending on the style of the ornament you require jewelry time and work while machine-made jewellery costs less than man-made ones. All in all, 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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