Gold price at ₹54,410 higher than week's average of ₹53,630 - Hindustan Times
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Gold price at 54,410 higher than week's average of 53,630

HT Analytics | ByHT Analytics
Aug 06, 2020 10:58 AM IST

Get latest update on daily spot gold prices, currency exchange rates and other precious metal rates in India

The spot gold price today(Rs. 54,410) is higher than this week's average of Rs. 53,630 by 1.45%. The price was higher than yesterday's value of Rs. 54,400.

Newly cast ingots of 99.99% pure gold are stored after weighing at the Krastsvetmet non-ferrous metals plant, one of the world's largest producers in the precious metals industry, in the Siberian city of Krasnoyarsk, Russia.(Reuters File Photo)
Newly cast ingots of 99.99% pure gold are stored after weighing at the Krastsvetmet non-ferrous metals plant, one of the world's largest producers in the precious metals industry, in the Siberian city of Krasnoyarsk, Russia.(Reuters File Photo)

Although the gold price in both global($2042.2) as well as Indian market(Rs. 54,410) experienced a growth, the spot gold prices in Indian market grew by a lesser rate of 0.02% as compared to Global gold prices of 0.2%.

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Gold and other precious metals on August 06, 2020

Gold prices continued their uptrend today as compared to yesterday in the global market. Spot gold rose by 0.2% to $2042.2 per Troy ounce. This price level is 8.41% higher than average gold price observed in the past 30 days ($1870.4). Among other precious metals, silver prices edged higher today. Silver gained 0.21% to $27.0 per Troy ounce.

Further, platinum price has shown an uptick. The precious metal platinum rose 0.31% to $973.0 per Troy ounce. Meanwhile in India, gold was priced at Rs. 55,445 per 10 gram on MCX, with a change of Rs. 149.7. Also, the price of 24k gold in the Indian spot market was quoted at Rs. 54,410. 

MCX Gold on August 06, 2020

Gold prices in India plunged today with futures on MCX by 0.27% to Rs. 55,445 per 10 gram. In the previous session, gold was up 1.48% or about Rs. 149.7 per 10 gram. On MCX, silver futures grew nearly 1.03% or Rs. 748.1 per kg to the price level of Rs. 72631.0 per kg.

The gold spot price today (Rs. 54,410) increased by Rs. 149.7 from yesterday (Rs. 54,400), along with global spot prices growth of $4.05 to $2042.2 value today. However, the trend observed in MCX future price had a decrease of Rs. 149.7 and value of Rs. 55,445 as of today.

Currency Exchange Rate on August 06, 2020

The dollar to rupee conversion today increased to Rs. 74.9 as compared to previous close of Rs. 74.8. The rise of dollar against rupee might influence gold's rate today reflecting a higher gold price in the domestic markets.

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