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Gold and silver rates today hikes in Bangalore, Hyderabad, Kerala, Visakhapatnam 1 October 2020

Gold Rate Today in Hyderabad
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Gold and silver rates today hikes in Bangalore, Hyderabad, Kerala, Visakhapatnam 1 October 2020

Highlights

Gold and Silver rates today, 1 October: Gold rates after being slashed in the last seasone have hiked on Thursday.

Gold and Silver rates today, 1 October: Gold rates after being slashed in the last seasone have hiked on Thursday. On MCX, the gold rates have climbed by Rs. 310 to Rs. 52,010 while the silver also rallied by Rs. 300 to Rs. 61,000. The gold rates have increased inline with global markets where 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 climbed to Rs. 47,680 per 10 gm with an increase of Rs. 280 and that 24 carat gold is jumped by Rs. 31 to Rs. 52,010. In Hyderabad, the gold rate was at Rs 48,340 with an hike of Rs. 180 per ten gram of 22 carat gold and that of 24 carat is at Rs. 52,730 with a surge of Rs. 200.

The gold rates in Kerala rallied with Rs. 200 to Rs 46,700 per 10 gram of 22 carat and the rate of ten grams of 24 carat is at Rs. 50,950 with hike of Rs. 210. While in the Visakhapatnam, the gold rates have followed the Hyderabad trends with Rs. 48,340 and Rs. 52,730 per ten grams of 22 carat and 24 carat respectively.

City
22 carat Gold (10gms) 24 carat Gold (10gms) silver (1kg)
Bangalore Rs. 47,680 Rs. 52,010 Rs.61,000
Hyderabad Rs. 48,340 Rs. 52,730 Rs.61,000
Kerala Rs. 46,700 Rs. 50,950 Rs 61,000
Vizag Rs. 48,340 Rs. 52,730 Rs.61,000

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.

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