Gold price sustains Rs 52,000 level tracking global cues
The spot gold price today(Rs. 51,660) is higher than this week's average of Rs. 50,802.86 by 1.69%. The price was higher than yesterday's value of Rs. 51,650.
Although the gold price in both global($1945.3) as well as Indian market(Rs. 51,660) 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 0.14%.
Gold and other precious metals on July 28, 2020
Following yesterday's trend, global spot prices continued its growth today as well. It was clocked at $1945.3 per Troy ounce in the latest close which noted an increase of 0.14% over yesterday. This price level is 6.77% higher than average gold price observed in the past 30 days ($1813.7). Among other precious metals, silver prices edged higher today. Silver gained 0.2% to $24.6 per Troy ounce.
Further, platinum price has suffered. The precious metal platinum fell 1.21% to $937.0 per Troy ounce. Meanwhile in India, gold was priced at Rs. 52,425 per 10 gram on MCX, with a change of Rs. 57.67. Also, the price of 24k gold in the Indian spot market was quoted at Rs. 51,660.
MCX Gold on July 28, 2020
On MCX, gold futures prices in India jumped 0.11% to Rs. 52425.0 per 10 gram. In the previous session, gold was up 2.45% or about Rs. 57.67 per 10 gram. On MCX, silver futures grew nearly 1.05% or Rs. 698.25 per kg to the price level of Rs. 66,500 per kg.
The gold spot price today (Rs. 51,660) increased by Rs. 57.67 from yesterday (Rs. 51650.0), along with global spot prices growth of $2.75 to $1945.3 value today. Similar trend was observed in MCX future price with an increase of Rs. 57.67 and value of Rs. 52,425 as of today.
Currency Exchange Rate on July 28, 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.