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Home / Business News / Indian spot gold rate and silver price on Aug 24, 2020

Indian spot gold rate and silver price on Aug 24, 2020

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

business Updated: Aug 24, 2020, 10:36 IST
HT Analytics
HT Analytics
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Gold, Silver and other precious metal prices in India on Aug 24, 2020
Gold, Silver and other precious metal prices in India on Aug 24, 2020(Reuters)

The spot gold price today(Rs. 51970.0) is lower than this week's average of Rs. 52291.43 by 0.61%. The price was also higher than yesterday's value of Rs. 51960.0.

The spot gold prices in India(Rs.51970.0) witnessed a growth of 0.02%, despite global gold prices($1934.5) saw a drop of 0.67%.

Gold and other precious metals on Aug 24, 2020

Following yesterday's trend, global spot prices continued its fall today as well. It was clocked at $1934.5 per Troy ounce in the latest close which noted a decrease of -0.67% over yesterday. This price level is 1.86% lower than average gold price observed in the past 30 days ($1970.5). Among other precious metals, silver prices edged higher today. Silver gained 2.18% to $26.5 per Troy ounce.

The precious metal platinum prices remained stable at $919.5 per Troy ounce. Meanwhile in India, gold was priced at Rs. 51858.0 per 10 gram on MCX, with a change of Rs. 186.69. Also, the price of 24k gold in the Indian spot market was quoted at Rs. 51970.0. 

MCX Gold on Aug 24, 2020

Gold prices in India fell today with futures on MCX by 0.36% to Rs. 51858.0 per 10 gram. In the previous session, gold was down 0.49% or about Rs. 186.69 per 10 gram. On MCX, silver futures plunged nearly 1.11% or Rs.736.72 per kg to the price level of Rs. 66371.0 per kg.

The gold spot price today (Rs. 51970.0) increased by Rs. 186.69 from yesterday (Rs. 51960.0), whereas global spot prices saw a downturn of $13.0 to $1934.5 value today. However, the trend observed in MCX future price had a decrease of Rs. 186.69 and value of Rs. 51858.0 as of today.

Currency Exchange Rate on Aug 24, 2020

The dollar to rupee conversion has been constant since yesterday and any fluctuation today in the gold price would suggest no relation with the dollar value.

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