Gold and silver rates today in Bangalore, Hyderabad, Kerala, Visakhapatnam 9 October 2020
Gold rates on Friday have remained choppy.
Gold and Silver rates today, 9 October: Gold rates on Friday have remained choppy. On MCX, the gold rates have increased by Rs. 30 to Rs. 51,710 while the silver decreased by Rs. 400 to Rs. 60,600. The gold rates have increased following the global markets wherein the investors eyed to catch up the profits with US stimulus bill. 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 at different cities.
In Bangalore, the price of 22-carat gold is at Rs. 47,410 per 10 gm with a hike of Rs. 30 and that 24 carat gold is hiked by Rs. 30 to Rs. 51,710 In Hyderabad, the gold rate was at Rs 48,010 with a slash of Rs. 40 per ten gram of 22 carat gold and that of 24 carat is at Rs. 52,370 with a fall of Rs. 40.
The gold rates in Kerala are at Rs 46,510 per 10 gram of 22 carat with a hike of Rs. 10 and the rate of ten grams of 24 carat is at Rs. 50,760 with a hike of Rs. 10. While in Visakhapatnam, the gold rates have followed the Hyderabad trends with Rs. 48,010 and Rs. 52,370 per ten grams of 22 carat and 24 carat .
|22 carat Gold (10gms)||24 carat Gold (10gms)||silver (1kg)|
|Bangalore||Rs. 47,380||Rs. 51,680||Rs.60,600|
|Hyderabad||Rs. 48,050||Rs. 52,410||Rs.60,600|
|Kerala||Rs. 46,500||Rs. 50,750||Rs 60,600|
|Vizag||Rs. 48,050||Rs. 52,410||Rs.60,600|
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.