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Home / Business News / Gold rate goes up to Rs 50,860, silver prices gain 0.33%

Gold rate goes up to Rs 50,860, silver prices gain 0.33%

The Indian spot gold price as of today is Rs 50,860 which grew by 0.02%; the rate was lower than the global gold spot growth rate of 0.22%.

business Updated: Oct 29, 2020, 10:51 IST
HT Analytics
HT Analytics
HT Analytics
Gold prices in India have increased to Rs 50,860 since yesterday’s Rs 50,850.
Gold prices in India have increased to Rs 50,860 since yesterday’s Rs 50,850.(Reuters)

Spot gold prices in India(Rs 50,860) have increased since yesterday(Rs 50,850). Although, it was lower than the average gold price observed this week (Rs50,994.29) by 0.26%.

The Indian spot gold price as of today is Rs 50,860 which grew by 0.02%; the rate was lower than the global gold spot growth rate of 0.22%. The global spot price is $1,882.3.

Gold and other precious metals on Oct 29, 2020

Global spot prices grew by 0.22% today which is opposite to yesterday's case. The final value in the current close being $1,882.3 per Troy ounce. This price level is 1.18% lower than average gold price observed in the past 30 days ($1,904.6). Among other precious metals, silver prices edged higher today. Silver gained 0.33% to $23.5 per Troy ounce.

Further, platinum price has suffered. The precious metal platinum fell 0.06% to $873 per Troy ounce. Meanwhile in India, gold was priced at Rs 50,490 per 10 gram on MCX, with a change of Rs 0. Also, the price of 24k gold in the Indian spot market was quoted at Rs 50,860. 

MCX Gold on Oct 29, 2020

On MCX, silver futures remained stable at Rs 60,267 per kg.

The gold spot price today (Rs 50,860) increased by Rs 0 from yesterday (Rs 50,850), along with global spot prices growth of $4.0 to $1,882.3 value today. No change was seen in MCX future price as of today, and had a value of Rs 50,490.

Currency Exchange Rate on Oct 29, 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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