Gold prices in India on Thursday, November 5 have gone down following the global rates. On MCX, the gold rates have increased to ₹50,822. Today, silver price in India has gone up to ₹61,354 rupees per kilogram. The gold prices have declined in many states ahead of the festive season. People buy gold and silver on Dhanteras for auspiciousness.
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. The gold rate in Delhi for 22-carat is ₹49,254 and 24 carat gold is at Rs. ₹52,734. Talking about Mumbai, the gold rates have been at ₹50,070 and ₹₹51,040 per ten grams of 22 carat and 24 carat respectively.
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.
When is Dhanteras?
Dhanteras or Dhantrayodashi is celebrated one or two days before Diwali every year. Diwali is celebrated on the day of Kartik Amavasya. On the day of Dhanteras, Lord Dhanvantari is worshiped by law. On this day people also shop for gold, silver, jewelery, utensils etc. for auspiciousness.
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