Gold prices in India at Rs 52,260, lower than last week’s average by 3.01% – business news

An increase of 0.02% in spot gold price in India was seen since yesterday, taking the value to Rs 52,260 from Rs 52,250. Although it was also lower than the previous week average of Rs 53,881.43 by 3.01%.

Although the global gold prices ($1951.2) dropped by 0.14%, the spot gold prices in India (Rs 52,260) saw a growth of 0.02%.

Gold and other precious metals on Aug 14, 2020

Global spot prices dropped as per the current close with a value of $1,951.2 per Troy ounce. The total downturn being of -0.14%. This price level is 1.28% higher than average gold price observed in the past 30 days ($1926.2). Among other precious metals, silver prices saw a fall today. Silver plunged 0.81% to $27.3 per Troy ounce.

Further, platinum price has suffered. The precious metal platinum fell 0.31% to $957.5 per Troy ounce. Meanwhile in India, gold was priced at Rs 52,801 per 10 gram on MCX, with a change of Rs 343.21. Also, the price of 24k gold in the Indian spot market was quoted at Rs 52,260 . 

MCX Gold on Aug 14, 2020

Gold prices in India plunged today with futures on MCX by 0.65% to Rs 52,801 per 10 gram. In the previous session, gold was up 1.22% or about Rs 343.21 per 10 gram. On MCX, silver futures plunged nearly 1.22% or Rs 856.55 per kg to the price level of Rs 70,209 per kg.

The gold spot price today (Rs 52,260) increased by Rs 343.21 from yesterday (Rs 52,250), whereas global spot prices saw a downturn of $2.78 to $1951.2 value today. However, the trend observed in MCX future price had a decrease of Rs 343.21 and value of Rs 52,801 as of today.

Currency Exchange Rate on Aug 14, 2020

The dollar to rupee conversion today increased to Rs 74.9 as compared to previous close of Rs 74.8. The rise of dollar against rupee might influence gold’s rate today reflecting a higher gold price in the domestic markets.