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Home / Business News / Gold price jumps to record Rs 56,410 per 10 gram, silver above Rs 77,500 per kg

Gold price jumps to record Rs 56,410 per 10 gram, silver above Rs 77,500 per kg

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

business Updated: Aug 10, 2020 17:43 IST
HT Analytics
HT Analytics
HT Analytics
Gold items are seen on a display window of a gold and jewellery store in Los Angeles.
Gold items are seen on a display window of a gold and jewellery store in Los Angeles.(Reuters File Photo )

An increase of 0.02% in spot gold price in India was seen since yesterday, taking the value to Rs. 54,810 from Rs. 54,800. It was also higher than the previous week average of Rs. 53,958.57 by 1.58%.

Although the gold price in both global($2065) as well as Indian market(Rs. 54,810) 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 0.06%.

Gold and other precious metals on August 07, 2020

Global spot prices continued to grow as per the current close with a value of $2,065 per Troy ounce. The total growth being of 0.06%. This price level is 9.01% higher than average gold price observed in the past 30 days ($1,878.9). Among other precious metals, silver prices saw a fall today. Silver plunged 1.99% to $28.8 per Troy ounce.

Further, platinum price has suffered. The precious metal platinum fell 1.8% to $983.5 per Troy ounce. Meanwhile in India, gold was priced at Rs. 56,410 per 10 gram on MCX, with a change of Rs. 293.33. Also, the price of 24k gold in the Indian spot market was quoted at Rs. 54,810. 

MCX Gold on August 07, 2020

On MCX, gold futures prices in India jumped 0.52% to Rs. 56,410 per 10 gram. In the previous session, gold was up 0.94% or about Rs. 293.33 per 10 gram. On MCX, silver futures grew nearly 2.14% or Rs. 1,659.16 per kg to the price level of Rs. 77,531 per kg.

The gold spot price today (Rs. 54,810) increased by Rs. 293.33 from yesterday (Rs. 54,800), along with global spot prices growth of $1.32 to $2065.0 value today. Similar trend was observed in MCX future price with an increase of Rs. 293.33 and value of Rs. 56,410 as of today.

Currency Exchange Rate on August 07, 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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