Gold prices in both Indian and global markets witness growth
An increase of 0.02% in spot gold price in India was seen since yesterday, taking the value to Rs 49,260 from Rs 49250. Although, It was also lower than the previous week average of Rs 49,307.14 by 0.1%.
Although the gold price in both global($1837.7) as well as Indian market(Rs 49,260) 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 0.07%.
Gold and other precious metals on Dec 11, 2020
Global spot prices grew by 0.07% today which is opposite to yesterday's case. The final value in the current close being $1837.7 per Troy ounce. This price level is 0.38% lower than average gold price observed in the past 30 days ($1844.6). Among other precious metals, silver prices edged higher today. Silver gained 1.57% to $24.0 per Troy ounce.
Further, platinum price has shown an uptick. The precious metal platinum rose 0.1% to $1032.5 per Troy ounce. Meanwhile in India, gold was priced at Rs 49,165 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 49,260 .
MCX Gold on Dec 11, 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 remained stable at Rs 63531 per kg.
The gold spot price today (Rs 49,260) increased by Rs 0.0 from yesterday (Rs 49,250), along with global spot prices growth of $1.0 to $1837.7 value today. No change was seen in MCX future price as of today, and had a value of Rs 49,165.
Currency Exchange Rate on Dec 11, 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.