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Home / Business News / Gold rate increases to Rs 51,590, silver price sees fall of 2.35%

Gold rate increases to Rs 51,590, silver price sees fall of 2.35%

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

business Updated: Sep 17, 2020 11:46 IST
HT Analytics
HT Analytics
HT Analytics
Although the global gold prices ($1939.7) dropped by 1.02%, the spot gold prices in India (Rs 51590) saw a growth of 0.02%.
Although the global gold prices ($1939.7) dropped by 1.02%, the spot gold prices in India (Rs 51590) saw a growth of 0.02%.(Reuters)

Spot gold prices in India (Rs 51,590) have increased since yesterday (Rs 51,580). Also, it was above the average gold price observed this week (Rs 50,980) by 1.2%.

Although the global gold prices ($1,939.7) dropped by 1.02%, the spot gold prices in India (Rs. 51,590) saw a growth of 0.02%.

Gold and other precious metals on Sep 17, 2020

In global markets, gold prices continued its downtrend today with a fall in the previous session as well. Spot gold fell by 1.02% to $1,939.7 per Troy ounce. This price level is 0.4% lower than average gold price observed in the past 30 days ($1947.5). Among other precious metals, silver prices saw a fall today. Silver plunged 2.35% to $26.8 per Troy ounce.

Further, platinum price has suffered. The precious metal platinum fell 3.18% to $944 per Troy ounce. Meanwhile in India, gold was priced at Rs 51,481 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 51,590. 

MCX Gold on Sep 17, 2020

On MCX, silver futures plunged nearly 1.0% or Rs 677.87 per kg to the price level of Rs 67,787 per kg. The gold spot price today (Rs 51,590) increased by Rs 0.0 from yesterday (Rs 51,580), whereas global spot prices saw a downturn of $20.0 to $1939.7 value today. No change was seen in MCX future price as of today, and had a value of Rs 51,481.

Currency Exchange Rate on Sep 17, 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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