Gold and silver rates have come down on Thursday following the global rate. On MCX, the gold rates have decreased by Rs. 570 to Rs. 51,680 while the silver rates are at Rs. 60,200 with a fall of Rs 1800.
In Chennai, the gold rate was at Rs 48,050 with a fall of Rs. 400 per ten grams of 22-carat gold and that of 24 carat is at Rs. 52,380 with a fall of Rs. 470. Talking about Delhi, the price of 22-carat gold has fell by Rs. 500 to Rs. 48,900 per 10 gm and that of 24-carat gold is at Rs. 53,860 with a hike of Rs. 510.
Speaking of Kolkata, the gold rates is at Rs 49,470 per 10 gram of 22 carat with Rs. 450 decrease and the rate of ten grams of 24 carat is at Rs. 52,380. In Mumbai, the gold rates have been at Rs. 49,400and Rs. 50,400 per ten grams of 22 carat and 24 carat respectively with a fall of Rs. 20.
Know why Gold and Silver rate increases or decreases
Gold tends to increase when people prefer investing in gold due to inflation and concerned about the risks in the financial system. On the other hand, at times gold rates also decrease due to the fact that the fall in international markets, an increase in dollar value, and other tensions between the countries. Off late the gold prices have come down due to the US-China dispute.
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)
How many times gold rates change in a day?
As the yellow metal gold is traded at Multi Commodity Exchange where the gold rates change 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.