Gold and silver prices today in Bangalore, Hyderabad, Kerala, and Vishakhapatnam on 25th August
On 25th August 2020 (Tuesday), the prices of Gold and silver had a dip in the domestic markets in India. Due to the US-China business deals and the strengthening of the US dollar, the prices of gold have been affected.
The future of gold had faced a dip by Rs. 340 at Rs. 53,670 while the rates of silver had also declined by Rs. 410 to Rs. 66,700 on MCX( Multi Commodity Exchange). MCX is where metals like diamond, gold, and none other ferrous items like the BSE for other commodities are offered for sale.
The purity of gold is measured in carats. There are three types of carats; 24 carats ( 24 parts of gold and is considered 100% of pure gold),22 carats gold ( contains 22 parts of gold and other two parts of elements like copper to form jewelry, it constitutes 91.67% pure gold) and then 18 carats (18 parts of gold and 6 parts of copper and other elements).
By dividing the carat by 24 and multiplying it with 100 we can calculate the purity of gold.
The rates of gold at four different major centers on 25th August are:
For the last couple of weeks, the prices of gold in Bangalore have been rough. The rates of gold in Bangalore has been decreased by Rs.340 to Rs. 53,670 for every ten grams of 24-carat gold and for every ten grams of 22 carats gold there is a dip of Rs. 310 to Rs. 49.210.
in Hyderabad, the cosmopolitan city, the gold rates have seen a dip as for every ten grams of 24 carats of gold it is Rs. 490 to Rs. 54,580 and for every ten grams of 22 carats gold, it is Rs.460 to Rs. 50,030.
There is a high rate of gold investors in Kerala. There is a dip in the 24 carats of gold for every ten grams of Rs. 410 and Rs. 440. The rate is Rs.51,600. While the rate of 22 grams of gold for every ten grams is Rs. 48,200.
In Vishakhapatnam, for every ten grams of 22 carats gold, it is Rs. 50,30 and for every ten grams of 24 carats gold it’s Rs. 54,580.
However, the rate of silver in all the above states remains the same i.e Rs. 66,700 ( 1kg).