Gold rate reaches Rs 50,510, lower than previous week’s average

Gold rate reaches Rs 50,510, lower than previous week’s average

An increase of 0.02% in spot gold price in India was seen since yesterday, taking the value to Rs 50,510 from Rs 50,500. Although, It was also lower than the previous week average of Rs 50,528.57 by 0.04%.

Although the global gold prices($1945.0) dropped by 0.08%, the spot gold prices in India(Rs 50,510.0) saw a growth of 0.02%.

Gold and other precious metals on Sep 10, 2020

Global spot prices continued to fall as per the current close with a value of $1945.0 per Troy ounce. The total downturn being of -0.08%. This price level is 0.17% lower than average gold price observed in the past 30 days ($1948.3). Among other precious metals, silver prices edged higher today. Silver gained 0.15% to $27.0 per Troy ounce.

Further, platinum price has suffered. The precious metal platinum fell 0.33% to $920.0 per Troy ounce. Meanwhile in India, gold was priced at Rs 51,472 per 10 gram on MCX, with a change of Rs 0.0. Also, the price of 24k gold in the Indian spot market was quoted at Rs 50,510 .

MCX Gold on Sep 10, 2020

On MCX, silver futures remained stable at Rs 68,600 per kg. The gold spot price today (Rs 50510) increased by Rs 0.0 from yesterday (Rs 50,500), whereas global spot prices saw a downturn of $1.0 to $1945.0 value today. No change was seen in MCX future price as of today, and had a value of Rs 51,472.

Currency Exchange Rate on Sep 10, 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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