India spot gold rate witnesses jump of 0.2%; global price drop

Updated on Dec 14, 2020 12:24 PM IST

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

A saleswoman displays a gold necklace to a customer inside a jewellery showroom in Mumbai.(Reuters)
A saleswoman displays a gold necklace to a customer inside a jewellery showroom in Mumbai.(Reuters)
HT Analytics | ByHT Analytics

An increase of 0.2% in spot gold price in India was seen since yesterday, taking the value to Rs 49, 260 from Rs 49250 It was also higher than the previous week average of Rs 49,242.85 by 0.3%.

Although the global gold prices ($1,836.3) dropped by 0.12%, the spot gold prices in India (Rs 49, 260) saw a growth of 0.02%.

Gold and other precious metals on Dec 14, 2020

Global spot prices continued to fall as per the current close with a value of $1836.3 per Troy ounce. The total downturn being of -0.12%. This price level is 0.19% lower than average gold price observed in the past 30 days ($1,839.7). Among other precious metals, silver prices edged higher today. Silver gained 0.02% to $23.9 per Troy ounce.

Further, platinum price has shown an uptick. The precious metal platinum rose 0.79% to $1025.0 per Troy ounce. Meanwhile in India, gold was priced at Rs 49,096 per 10 gram on MCX, with a change of zero rupees. Also, the price of 24k gold in the Indian spot market was quoted at Rs 49,260 . 

MCX Gold on Dec 14, 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 63, 475 per kg.

The gold spot price today (Rs 49, 260) increased by Rs 0 from yesterday (Rs 49, 250), whereas global spot prices saw a downturn of $2.0 to $1836.3 value today. No change was seen in MCX future price as of today, and had a value of Rs 49, 096.

Currency Exchange Rate on Dec 14, 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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