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Gold and silver rates today rises sharply in Delhi, Chennai, Kolkata, Mumbai on 21 September 2020

Gold price today
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Gold and silver rates today rises sharply in Delhi, Chennai, Kolkata, Mumbai on 21 September 2020

Highlights

Gold and silver rates today, 21 September 2020: The gold rates on Monday have hiked sharply in Indian markets on September 21 with a hike in global rates.

Gold and silver rates today, 21 September 2020: The gold rates on Monday have hiked sharply in Indian markets on September 21 with a hike in global rates. On MCX, gold futures hiked by Rs. 10 to Rs. 53,570 per 10 gram while silver futures were at Rs. 67,900 per kg.

Meanwhile, the Gold rates in Delhi have seen a hike of Rs. 10 per ten gram of 22 carat taking the price to 50,360 and per ten grams of 24 carat gold is also hiked by Rs. 10 taking the price to Rs. 54,870.

In Chennai, the gold rates have decreased by Rs. 10 to Rs. 49,590 per ten grams of 22 carat while the gold rate of ten grams of 24 carat has also increased by Rs. 10 Rs. 54,070

Gold rates in Kolkata, stood at Rs. 50,840 per ten grams of 22 carat and for ten gram of 24 carat is at Rs. 53,540 with a hike of Rs. 10. While the gold rates in Mumbai the commercial capital have witnessed a hike of Rs. 10 for both 22 carats and 24-carat gold taking the prices to Rs. 50,490 and Rs. 51,490.

City
22 carat Gold (10gms) 24 carat Gold (10gms) silver (1kg)
Delhi Rs. 50,360 Rs. 54,870 Rs.67,900
Chennai Rs. 49,590 Rs. 54,070 Rs.67,900
Kolkata Rs. 50,840 Rs. 53,540 Rs.67,900
Mumbai Rs. 50,490 Rs. 51,490 Rs.67,900


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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