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Gold and silver rates today surges in Delhi, Chennai, Kolkata, Mumbai on 01 October 2020

Gold Rate Today
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Gold and silver rates today surges in Delhi, Chennai, Kolkata, Mumbai on 01 October 2020

Highlights

Gold and Silver rates today, 1 October: Gold rates on Thursday jumped up. 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.

Gold and Silver rates today, 1 October: Gold rates on Thursday jumped up. 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 have catch up the profits amid US stimulus bill.

In Delhi, the price of 22-carat gold jumped up by Rs. 300 to Rs. 49,200 per 10 gm and that of 24 carat gold is jumped by Rs. 320 to Rs. 53,670. In Chennai, 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.

City
22 carat Gold (10gms) 24 carat Gold (10gms) silver (1kg)
Delhi Rs. 49,200 Rs. 53,670 Rs.61,000
Chennai Rs. 48,340 Rs. 52,730 Rs.61,000
Kolkata Rs. 49,730 Rs. 52,640 Rs 61,000
Mumbai Rs. 48,960 Rs. 49,960 Rs.61,000

The gold rates in Kolkata has increased by Rs. 230 to Rs 49,730 per 10 gram of 22 carat and the rate of ten grams of 24 carat is at Rs. 52,640 with hike of Rs. 230. In Mumbai, the gold rates have been at Rs. 48,960 and Rs. 49,960 per ten grams of 22 carat and 24 carat respectively with a fall of Rs. 40.

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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