Gold price witnesses marginal increase, touches Rs 50,970 – Hindustan Times

An increase of 0.02% in spot gold price in India was seen since yesterday, taking the value to Rs 50,970 from Rs 50,960. It was also higher than the previous week average of Rs 50,885.71 by 0.17%.

Although the gold price in both global($1880.2) as well as Indian market(Rs. 50,970) 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 0.06%.

Gold and other precious metals on Nov 02, 2020

Global spot prices continued to grow as per the current close with a value of $1880.2 per Troy ounce. The total growth being of 0.06%. This price level is 1.22% lower than average gold price observed in the past 30 days ($1903.0). Among other precious metals, silver prices saw a fall today. Silver plunged 0.44% to $23.9 per Troy ounce.

Further, platinum price has shown an uptick. The precious metal platinum rose 0.24% to $847.5 per Troy ounce. Meanwhile in India, gold was priced at Rs. 50709.0 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. 50970.0 . 

MCX Gold on Nov 02, 2020

On MCX, silver futures remained stable at Rs. 61,404 per kg.

The gold spot price today (Rs. 50,970) increased by Rs. 0 from yesterday (Rs. 50,960), along with global spot prices growth of $1.0 to $1880.2 value today. No change was seen in MCX future price as of today, and had a value of Rs. 50,709.

Currency Exchange Rate on Nov 02, 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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