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Home / Business News / India’s spot gold rate increases since Sunday, but remains lower than global prices

India’s spot gold rate increases since Sunday, but remains lower than global prices

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

business Updated: Oct 26, 2020, 10:05 IST
HT Analytics
HT Analytics
HT Analytics
In global markets, gold prices moved higher today after a fall in the previous session. Spot gold rose by 0.09% to $1898.4 Gold per Troy ounce.
In global markets, gold prices moved higher today after a fall in the previous session. Spot gold rose by 0.09% to $1898.4 Gold per Troy ounce. (Reuters )

An increase of 0.02% in spot gold price in India was seen since yesterday, taking the value to Rs. 51,060 from Rs. 51,050. It was also higher than the previous week average of Rs. 51,045.71 by 0.03%.

Although the gold price in both global($1898.4) as well as Indian market(Rs. 51,060.0) 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 0.09%.

Gold and other precious metals on Oct 26, 2020

In global markets, gold prices moved higher today after a fall in the previous session. Spot gold rose by 0.09% to $1898.4 Gold per Troy ounce. This price level is 0.11% lower than average gold price observed in the past 30 days ($1900.4). Among other precious metals, silver prices saw a fall today. Silver plunged 0.31% to $24.3 per Troy ounce.

Further, platinum price has suffered. The precious metal platinum fell 1.27% to $892.0 per Troy ounce. Meanwhile in India, gold was priced at Rs. 50,692 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. 51,060. 

MCX Gold on Oct 26, 2020

On MCX, silver futures remained stable at Rs. 61854.0 per kg.

The gold spot price today (Rs. 51,060) increased by Rs. 0.0 from yesterday (Rs. 51,050), along with global spot prices growth of $1.0 to $1898.4 value today. No change was seen in MCX future price as of today, and had a value of Rs. 50,692.

Currency Exchange Rate on Oct 26, 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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