Indian spot gold rate maintains 52,400-level despite drop in global prices

Get latest update on daily spot gold prices, currency exchange rates and other precious metal rates in India
A salesman arranges gold bangles inside a jewellery showroom in Mumbai.(Reuters File Photo)
A salesman arranges gold bangles inside a jewellery showroom in Mumbai.(Reuters File Photo)
Updated on Jul 30, 2020 10:46 AM IST
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An increase of 0.02% in spot gold price in India was seen since yesterday, taking the value to 52,410 from 52,400. It was also higher than the previous week average of Rs. 51,518.57 by 1.73%.

Although the global gold prices($1964.6) dropped by 0.32%, the spot gold prices in India( 52,410) saw a growth of 0.02%.

Gold and other precious metals on July 30, 2020

In global markets, gold prices moved lower today after an uptick in the previous session. Spot gold fell by 0.32% to $1964.6 per Troy ounce. This price level is 7.37% 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 0.42% to $24.2 per Troy ounce.

Further, platinum price has suffered. The precious metal platinum fell 0.38% to $923.5 per Troy ounce. Meanwhile in India, gold was priced at 53,272 per 10 gram on MCX, with a change of 63.93. Also, the price of 24k gold in the Indian spot market was quoted at 52,410. 

MCX Gold on July 30, 2020

On MCX, gold futures prices in India jumped 0.12% to Rs. 53,272 per 10 gram. In the previous session, gold was up 0.9% or about Rs. 63.93 per 10 gram. On MCX, silver futures plunged nearly 0.23% or Rs.150.1 per kg to the price level of Rs. 65,261 per kg.

The gold spot price today (Rs. 52,410) increased by Rs. 63.93 from yesterday (Rs. 52,400), whereas global spot prices saw a downturn of $6.0 to $1964.6 value today. MCX future price saw an increase of Rs. 63.93 and value of 53,272 as of today.

Currency Exchange Rate on July 30, 2020

The dollar to rupee conversion today improved to Rs. 74.8 as compared to previous close of Rs. 74.9. The fall of dollar against rupee might influence gold's rate today reflecting a lower gold price in the domestic markets.

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