Sunday, February 28

Gold rate increases by 0.02%, price at Rs 50,520

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An increase of 0.02% in spot gold price in India was seen since yesterday, taking the value to Rs. 50,520 from Rs. 50,510. Although, It was also lower than the previous week average of Rs. 50,535.71 by 0.03%.

Although the gold price in both global ($1901.4) as well as Indian market (Rs 50,520) 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 0.11%.

Gold and other precious metals on Oct 19, 2020

Gold prices continued their uptrend today as compared to yesterday in the global market. Spot gold rose by 0.11% to $1883.7 per Troy ounce. This price level is 0.07% higher than average gold price observed in the past 30 days ($1900.1). Among other precious metals, silver prices edged higher today. Silver gained 2.78% to $23.6 per Troy ounce.

Further, platinum price has shown an uptick. The precious metal platinum rose 0.17% to $866.5 per Troy ounce. Meanwhile in India, gold was priced at Rs. 50,555 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. 50,520.

MCX Gold on Oct 19, 2020

On MCX, silver futures remained stable at Rs. 61,365 per kg.

The gold spot price today (Rs. 50,520) increased by Rs. 0.0 from yesterday (Rs. 50,510), along with global spot prices growth of $2.0 to $1901.4 value today. No change was seen in MCX future price as of today, and had a value of Rs. 50,555.

Currency Exchange Rate on Oct 19, 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.