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Home / Business News / Indian spot gold prices maintain upward trend, higher than week’s average by 1.86%

Indian spot gold prices maintain upward trend, higher than week’s average by 1.86%

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

business Updated: Jul 29, 2020, 10:09 IST
HT Analytics
HT Analytics
HT Analytics
The spot gold prices in India (Rs 51,760) witnessed a growth of 0.21%, despite global gold prices ($1956.8) saw a drop of 0.14%.
The spot gold prices in India (Rs 51,760) witnessed a growth of 0.21%, despite global gold prices ($1956.8) saw a drop of 0.14%.(Getty Images)

Spot gold prices in India(Rs. 51770.0) have increased since yesterday(Rs. 51760.0). Also, it was above the average gold price observed this week (Rs. 51112.86) by 1.29%.

Although the global gold prices($1949.5) dropped by 0.52%, the spot gold prices in India(Rs. 51770.0) saw a growth of 0.02%.

Gold and other precious metals on July 29, 2020

In global markets, gold prices moved lower today after an uptick in the previous session. Spot gold fell by 0.52% to $1949.5 per Troy ounce. This price level is 6.65% higher than average gold price observed in the past 30 days ($1819.8). Among other precious metals, silver prices saw a fall today. Silver plunged 0.74% to $24.2 per Troy ounce.

Further, platinum price has suffered. The precious metal platinum fell 1.47% to $939.0 per Troy ounce. Meanwhile in India, gold was priced at Rs. 52620.0 per 10 gram on MCX, with a change of Rs. 110.5. Also, the price of 24k gold in the Indian spot market was quoted at Rs. 51770.0 .

MCX Gold on July 29, 2020

Gold prices in India plunged today with futures on MCX by 0.21% to Rs. 52620.0 per 10 gram. In the previous session, gold was up 0.97% or about Rs. 110.5 per 10 gram. On MCX, silver futures plunged nearly 0.78% or Rs.507.58 per kg to the price level of Rs. 65074.0 per kg.

The gold spot price today (Rs. 51770.0) increased by Rs. 110.5 from yesterday (Rs. 51760.0), whereas global spot prices saw a downturn of $10.0 to $1949.5 value today. However, the trend observed in MCX future price had a decrease of Rs. 110.5 and value of Rs. 52620.0 as of today.

Currency Exchange Rate on July 29, 2020

The dollar to rupee conversion today increased to Rs. 74.9 as compared to previous close of Rs. 74.8. 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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