Gold price in India witnesses 0.02% increase, remains below global growth rate

Get latest update on daily spot gold prices, currency exchange rates and other precious metal rates in India
People buying goldin Mumbai.(Satish Bate/HT Photo)
People buying goldin Mumbai.(Satish Bate/HT Photo)
Updated on Nov 12, 2020 12:55 PM IST
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HT Analytics | ByHT Analytics

An increase of 0.02% in spot gold price in India was seen since yesterday, taking the value to Rs 50,660 from Rs 50,650. Although, It was also lower than the previous week average of Rs 51,490 by 1.61%.

The Indian spot gold price as of today is Rs 50,660 which grew by 0.02%; the rate was lower than the global gold spot growth rate of 0.26%. The global spot price is $1870.9.

Gold and other precious metals on Nov 12, 2020

Global spot prices continued to grow as per the current close with a value of $1870.9 per Troy ounce. The total growth being of 0.26%. This price level is 1.59% lower than average gold price observed in the past 30 days ($1900.7). Among other precious metals, silver prices edged higher today. Silver gained 0.02% to $24.3 per Troy ounce.

Further, platinum price has shown an uptick. The precious metal platinum rose 0.23% to $871.0 per Troy ounce. Meanwhile in India, gold was priced at Rs. 50,355 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 50,660 . 

MCX Gold on Nov 12, 2020

On MCX, silver futures remained stable at Rs 62,635 per kg.

The gold spot price today (Rs 50,660) increased by Rs 0 from yesterday (Rs 50,650), along with global spot prices growth of $4.0 to $1870.9 value today. No change was seen in MCX future price as of today, and had a value of Rs 50,355.

Currency Exchange Rate on Nov 12, 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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