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Gold rate today slashes in Delhi, Chennai, Kolkata, Mumbai on 23 September 2020

Gold rate today
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Gold rate today slashes in Delhi, Chennai, Kolkata, Mumbai on 23 September 2020

Highlights

Gold rate today: The gold Price on Wednesday have fell in Indian markets with a fall in global rates.

Gold and silver rates today, 23 September 2020: The gold rates on Wednesday have fell in Indian markets with a fall in global rates. On MCX, gold futures have fell by Rs. 980 to Rs. 52,420 per 10 gram while silver futures were at Rs. 60,600 per kg with a fall of Rs. 6,400 less. Meanwhile, the Gold rates in Delhi have seen a fall of Rs. 700 per ten gram of 22 carat taking the price to 49,500 and per ten grams of 24 carat gold is also fell by Rs. 760 taking the price to Rs. 54,000.

In Chennai, the gold rates have decreased by Rs. 540 to Rs. 48,800 per ten grams of 22 carat while the gold rate of ten grams of 24 carat has also decreased by Rs. 590 Rs. 53,230

Gold rates in Kolkata, stood at Rs. 49,740 per ten grams of 22 carat and for ten gram of 24 carat is at Rs. 52,440 with a fall of Rs. 990. While the gold rates in Mumbai the commercial capital have witnessed a fall of Rs. 670 for both 22 carats and 24-carat gold taking the prices to Rs. 49,630 and Rs. 50,630.

City
22 carat Gold (10gms) 24 carat Gold (10gms) silver (1kg)
Delhi Rs. 49,500 Rs. 54,000 Rs.60,600
Chennai Rs. 48,800 Rs. 53,230 Rs.60,600
Kolkata Rs. 49,740 Rs. 52,440 Rs.60,600
Mumbai Rs. 49,630 Rs. 50,630 Rs.60,600

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.

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 gram jewelry charges + GST at 3% on

(Price of jewellery + making charges). Making charges vary depending on the style of the ornament you require jewelry time and work while machine-made jewellery costs less than man-made ones. All in all, 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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