Silver edges higher, spot gold prices drop slightly
The spot gold price today(Rs. 51720.0) is lower than this week’s average of Rs. 52041.43 by 0.62%. The price was also higher than yesterday’s value of Rs. 51710.0.
The Indian spot gold price as of today is Rs. 51720.0 which grew by 0.02%; the rate was lower than the global gold spot growth rate of 0.46%. The global spot price is $1936.9.
Gold and other precious metals on Aug 25, 2020
In global markets, gold prices moved higher today after a fall in the previous session. Spot gold rose by 0.46% to $1936.9 Gold per Troy ounce. This price level is 1.77% lower than average gold price observed in the past 30 days ($1971.1). Among other precious metals, silver prices edged higher today. Silver gained 1.67% to $26.8 per Troy ounce.
Further, platinum price has shown an uptick. The precious metal platinum rose 1.2% to $930.5 per Troy ounce. Meanwhile in India, gold was priced at Rs. 51490.0 per 10 gram on MCX, with a change of Rs. 102.98. Also, the price of 24k gold in the Indian spot market was quoted at Rs. 51720.0 .
MCX Gold on Aug 25, 2020
On MCX, gold futures prices in India showed an upsurge of 0.2% to Rs. 51490.0 per 10 gram. In the previous session, gold was down 1.27% or about Rs. 102.98 per 10 gram. On MCX, silver futures grew nearly 0.5% or Rs. 330.32 per kg to the price level of Rs. 66065.0 per kg.
The gold spot price today (Rs. 51720.0) increased by Rs. 102.98 from yesterday (Rs. 51710.0), along with global spot prices growth of $8.92 to $1936.9 value today. Similar trend was observed in MCX future price with an increase of Rs. 102.98 and value of Rs. 51490.0 as of today.
Currency Exchange Rate on Aug 25, 2020
The dollar to rupee conversion today improved to Rs. 74.1 as compared to previous close of Rs. 74.2. The fall of dollar against rupee might influence gold’s rate today reflecting a lower gold price in the domestic markets.
