Gold rate at Rs 52,510, silver prices increase by 0.99%

Get latest update on daily spot gold prices, currency exchange rates and other precious metal rates in India
Gold, Silver and other precious metal prices in India on Aug 18, 2020(Reuters)
Gold, Silver and other precious metal prices in India on Aug 18, 2020(Reuters)
Updated on Aug 18, 2020 11:32 AM IST
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An increase of 0.02% in spot gold price in India was seen since yesterday, taking the value to Rs 52,510 from Rs 52,500. It was also higher than the previous week average of Rs 52,330 by 0.34%.

Although the gold price in both global($1,989.5) as well as Indian market(Rs 52,510) experienced a growth, the spot gold prices in Indian market grew by a lesser rate of 02% as compared to Global gold prices of 0.22%.

Gold and other precious metals on Aug 18, 2020

Gold prices continued their uptrend today as compared to yesterday in the global market. Spot gold rose by 0.22% to $1,989.5 per Troy ounce. This price level is 2.24% higher than average gold price observed in the past 30 days ($1,945). Among other precious metals, silver prices edged higher today. Silver gained 0.99% to $27.8 per Troy ounce.

Further, platinum price has shown an uptick. The precious metal platinum rose 0.42% to $958.8 per Troy ounce. Meanwhile in India, gold was priced at Rs 53,635 per 10 gram on MCX, with a change of Rs 246.72. Also, the price of 24k gold in the Indian spot market was quoted at Rs 52,510 . 

MCX Gold on Aug 18, 2020

On MCX, gold futures prices in India jumped 0.46% to Rs 53,635 per 10 gram. In the previous session, gold was up 1.78% or about Rs 246.72 per 10 gram. On MCX, silver futures grew nearly 1.62% or Rs 1,134.91 per kg to the price level of Rs 70,056 per kg.

The gold spot price today (Rs 52,510) increased by Rs 246.72 from yesterday (Rs 52,500), along with global spot prices growth of $4.43 to $1,989.5 value today. Similar trend was observed in MCX future price with an increase of Rs 246.72 and value of Rs 53,635 as of today.

Currency Exchange Rate on Aug 18, 2020

The dollar to rupee conversion today increased to Rs 74.8 as compared to previous close of Rs 74.7. 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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