Spot gold price in India increases despite no change in global gold prices
An increase of 0.02% in spot gold price in India was seen since yesterday, taking the value to Rs. 48250.0 from Rs. 48240.0. Although, It was also lower than the previous week average of Rs. 48,748.5714285714 by 1.02%.
The spot gold price in India(Rs. 48,250.0) increased by 0.02%, despite of no change in the global gold price($1785.0).
Gold and other precious metals on Dec 01, 2020
In global markets, gold prices remained stable today after a fall in the previous session. Spot gold was priced at $1785.0 per Troy ounce. This price level is 4.81% lower than average gold price observed in the past 30 days ($1870.8). Among other precious metals, silver prices edged higher today. Silver gained 1.0% to $22.0 per Troy ounce.
Further, platinum price has shown an uptick. The precious metal platinum rose 1.0% to $985.0 per Troy ounce. Meanwhile in India, gold was priced at Rs. 48,184.0 per 10 gram on MCX, with a change of Rs. 0.0. Also, the price of 24k gold in the Indian spot market was quoted at Rs. 48,250.0 .
MCX Gold on Dec 01, 2020
On MCX, gold futures prices in India jumped 0.19% to Rs. 50,858.0 per 10 gram. In the previous session, gold was up 1.29% or about Rs. 96.63 per 10 gram.
On MCX, silver futures grew nearly 1.0% or Rs. 609.66 per kg to the price level of Rs. 60966.0 per kg.
The gold spot price today (Rs. 48,250.0) increased by Rs. 0.0 from yesterday (Rs. 48240.0), whereas global spot prices was steady at $1785.0 value today. No change was seen in MCX future price as of today, and had a value of Rs. 48184.0.
Currency Exchange Rate on Dec 01, 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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- Because of the November fall, the economy is set to contract again in the fourth quarter.