Gold prices in India on Saturday, November 14 have gone down following the global rates. On MCX, the gold rates have decreased to ₹50,903 and silver price in India has gone down to ₹63,770 rupees per kilogram. The gold prices have gone down in many states ahead of the festive season.
When it comes to the gold metal, the prices vary based on the city or state due to excise duty, state taxes, and making charges.
| City | 24 Karat | 22 Karat |
|---|---|---|
| Chennai | ₹51,967 | ₹47,677 |
| Mumbai | ₹50,818 | ₹49,848 |
| Bangalore | ₹51,552 | ₹47,362 |
| Delhi | ₹53,645 | ₹49,315 |
| Kerala | ₹51,519 | ₹47,499 |
| Hyderabad | ₹51,550 | ₹47,220 |
| Kolkata | ₹53,609 | ₹49,129 |
| Pune | ₹51,066 | ₹48,636 |
| Gold Price in India (*MCX) | ₹50,903 | ₹46,661 |
Know why Gold and Silver rate rise and decline
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 whGGolere 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.
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