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Gold and silver rates today sees a surge in Bangalore, Hyderabad, Kerala, Visakhapatnam 10 September 2020

Gold and silver rates today sees a surge in Bangalore, Hyderabad, Kerala, Visakhapatnam 10 September 2020
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Gold

Highlights

The yellow metal edged higher today in Indian markets, with an increase in global rates.

Gold and silver rates today, 10 September 2020: The yellow metal edged higher today in Indian markets, with an increase in global rates. On MCX, gold futures hiked by Rs. 230 percent Rs. 52,900 per 10 gram while silver futures also fell by Rs. 100 to Rs.67,900 per kg. Going by the trends, the gold rates in the previous session,

have fallen by 0.5 percent 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 48,500 with a hike at Rs. 200 and per ten grams of 24 carat is at Rs. 52,900 with an increase of Rs. 230.

The gold rates in Hyderabad on Thursday surged by Rs. 240 prices of Rs 49,090 per ten grams of 22 carat and the gold rate of 24 carat at 53,550 with a hike of Rs. 260. In Kerala, gold rate have been at Rs 47,300 per ten gram of 22 carat gold with a hike of Rs. 300 while ten grams of 24 carat gold at Rs. 51,600 with a hike of Rs. 300.

The gold rates Visakhapatnam of Andhra Pradesh have been at Rs. 49,090 and Rs. 53,550 per ten grams of 22 carat and 24 carats without change.

City
22 carat Gold (10gms) 24 carat Gold (10gms) silver (1kg)
Bangalore Rs. 48,500 Rs. 52,900 Rs.67,100
Hyderabad Rs. 49,099 Rs. 53,550 Rs.67,100
Kerala Rs. 47,300 Rs. 51,600 Rs.67,100
Vizag Rs. 49,090 Rs. 53,550 Rs.67,100

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.

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