Gold prices today slashes hugely in Delhi, Chennai, Kolkata, and Mumbai, 13 August 2020

Gold prices today, 13 August 2020: Gold prices, which have reached new high have started declining and fell hugely on Thursday. On MCX, Gold futures decreased by Rs. 2040 to Rs 54,600 while the silver has also surged by Rs. 7,500 to Rs. 65,000 today. MCX is a Multi Commodity Exchange where the metal items are offered for trading such as gold, diamond and none ferrous items just like the BSE for other commodities. .

While coming to what the carat is, it is the measure of the purity of the gold. There are three types 24 carats, 22 carat, and 18 carat. The 24-carat gold consists of total of 24 part gold whereas 22 carat contains 22 parts gold and 2 parts other elements to form the jewelry, while the 18 carat has 18 parts gold and 6 parts copper and other elements. The purity is calculated by dividing the carat by 24 and multiplying it with 100. The 24 carat home is said to be 100 percent pure while the 22 carat constitute 91.67 percent pure. Keeping them aside let's have a look at the rates for the day at four major centers.

In the country's capital, Delhi, gold prices have been at Rs. 50,250 per ten grams of 22 carat with a fall of Rs. 3,200 and the price of ten grams of 24 carat is at 54,500 with a fall of Rs. 200. While in Chennai, the gold prices stood at Rs. 50,130 per ten grams of 22 carats and ten grams of 24 carats remained at Rs. 54,680 with a fall of Rs.3010 and Rs. 3200.

In Kolkata, the yellow metal has stood at Rs. 50,750 per ten grams of 22 carat and Rs. 53,450 per ten gram of 24 carat with a fall of Rs. 3130 and Rs. 1830. The gold prices in the commercial capital Mumbai have gone up by Rs. 1980 for both 22 carats and 24-carat gold taking the prices to Rs. 51,400 and Rs. 52,400.