Gold and Silver Rates Today On August 20: Check the Latest Gold Rates in Your City

Gold and Silver Rates Today On August 20: After a massive hike in gold prices yesterday, the gold rates today in India have slightly decreased.

On Tuesday, August 20, the 22-carat gold is priced at Rs 66,690 per 10 grams while the 24-carat gold price is valued at Rs 72,760 per 10 grams.

The gold rate for 22-carat and 24-carat has decreased by Rs 10 in the last 24 hours.

Yesterday, the 22-carat gold stood at Rs 66,700 per 10 grams and the 24-carat gold was priced at Rs 72,770 per 10 grams.

Meanwhile, the 22-carat gold price per gram stands at Rs 6,669 while the 24-carat gold price costs Rs 7,276 per gram.

The silver rates today in India remain unchanged at Rs 86,000 per kilogram.

In the MCX, the gold contracts maturing on October 2024 went up by Rs 223 and were trading at Rs 71,598 per 10 gm while the silver futures expiring on September 2024 were trading at 84,344 per kg with a hike of Rs 1,131.

The gold prices are highly influenced by taxes such as excise duty taxes, state taxes, and many others. A fluctuation in these tax rates will highly influence the gold and silver rates across India.

Let’s take a glimpse at the current gold rate in different cities across India:

Also Read: Top Stocks to Watch On August 20: Bajaj Auto, Zomato, IndusInd Bank, DCM Shriram, HCL Tech, Saraswati Saree Depot, Tata Consumer Products, Poly Medicure

In July 2024, when the Finance Minister announced the Union Budget that reduced the excise duty taxes on gold and silver from 15% to 6%. This led to a massive drop of Rs 4000 in gold and silver rates on the next day.

Also Read: Gold and Silver Rates Today On August 19: Check the Latest Gold Rates in Your City