Spot gold prices in India(Rs. 54390.0) have increased since yesterday(Rs. 54380.0). Although, it was lower than the average gold price observed this week (Rs.54992.86) by 1.1%.

The spot gold prices in India(Rs.54390.0) witnessed a growth of 0.02%, despite global gold prices($1889.7) saw a drop of 1.19%.

Gold and other precious metals on Aug 12, 2020

Global spot prices continued to fall as per the current close with a value of $1889.7 per Troy ounce. The total downturn being of -1.19%. This price level is 1.54% lower than average gold price observed in the past 30 days ($1918.7). Among other precious metals, silver prices saw a fall today. Silver plunged 2.84% to $24.1 per Troy ounce.

Further, platinum price has suffered. The precious metal platinum fell 2.01% to $924.5 per Troy ounce. Meanwhile in India, gold was priced at Rs. 50581.0 per 10 gram on MCX, with a change of Rs. 1517.43. Also, the price of 24k gold in the Indian spot market was quoted at Rs. 54390.0 . 

MCX Gold on Aug 12, 2020

Gold prices in India fell today with futures on MCX by 3.0% to Rs. 50581.0 per 10 gram. In the previous session, gold was down 5.61% or about Rs. 1517.43 per 10 gram. On MCX, silver futures plunged nearly 6.0% or Rs.3777.3 per kg to the price level of Rs. 62955.0 per kg.

The gold spot price today (Rs. 54390.0) increased by Rs. 1517.43 from yesterday (Rs. 54380.0), whereas global spot prices saw a downturn of $22.78 to $1889.7 value today. However, the trend observed in MCX future price had a decrease of Rs. 1517.43 and value of Rs. 50581.0 as of today.

Currency Exchange Rate on Aug 12, 2020

The dollar to rupee conversion today improved to Rs. 74.6 as compared to previous close of Rs. 74.9. The fall of dollar against rupee might influence gold’s rate today reflecting a lower gold price in the domestic markets.