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Gold and silver rates today slashes in Bangalore, Hyderabad, Kerala, Visakhapatnam on 29 September 2020
Gold and silver rates today slashes in Bangalore, Hyderabad, Kerala, Visakhapatnam on 29 September 2020
Gold and silver rates today, 29 September 2020: The gold rates had decreased on Tuesday following the gold rates in global markets.
Gold and silver rates today, 29 September 2020: The gold rates had decreased on Tuesday following the gold rates in global markets. On MCX, gold futures have seen a fall of Rs. 230 to Rs. 51,160 per 10 gram while silver futures have been at Rs. 58,000 per kg with a decrease of Rs.1000. In the last session, gold rates have hiked Rs. 300 while silver rose by Rs. 1060 per kg and have sharply fallen this week in India.
The gold rates in Bangalore have slashed today by Rs. 210 per ten grams of 22 carat to Rs. 46,900 and per ten grams of 24 carat is at Rs. 51,160 with a loss of Rs. 230.
The gold rates in Hyderabad slashed by Rs. 100 to Rs 47,710 per ten grams of 22 carat and the gold rate of 24 carat is at 52,050 with a fall of Rs.100. In Kerala, gold rate have been at Rs 46,000 per ten gram of 22 carat while ten grams of 24 carat gold at Rs. 50,200 with a fall of Rs. 10.
The gold rates in Visakhapatnam of Andhra Pradesh have been at Rs. 47,710 and Rs. 52,050 per ten grams of 22 carat and 24 carats.
| City | 22 carat Gold (10gms) | 24 carat Gold (10gms) | silver (1kg) |
| Bangalore | Rs. 46,900 | Rs. 51,160 | Rs.58,000 |
| Hyderabad | Rs. 47,710 | Rs. 52,050 | Rs.58,000 |
| Kerala | Rs. 46,000 | Rs. 50,200 | Rs 58,000 |
| Vizag | Rs. 47,710 | Rs. 52,050 | Rs.58,000 |
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.
