Gold price increases marginally to ₹50,730, remains below week’s average

Spot gold prices in India(Rs. 50,730) have increased since yesterday( ₹50,720). Although, it was lower than the average gold price observed this week ( ₹51,587.14) by 1.66%.

The Indian spot gold price as of today is ₹50,730 which grew by 0.02%; the rate was lower than the global gold spot growth rate of 0.06%. The global spot price is $1,879.

Gold and other precious metals on Nov 11, 2020

Following yesterday's trend, global spot prices continued its growth today as well. It was clocked at $1,879 per Troy ounce in the latest close which noted an increase of 0.06% over yesterday. This price level is 1.33% lower than average gold price observed in the past 30 days ($1903.9). Among other precious metals, silver prices edged higher today. Silver gained 0.49% to $24.3 per Troy ounce.

Further, platinum price has shown an uptick. The precious metal platinum rose 0.17% to $889.5 per Troy ounce. Meanwhile in India, gold was priced at ₹50,460 per 10 gram on MCX, with a change of ₹0. Also, the price of 24k gold in the Indian spot market was quoted at ₹50,730. 

MCX Gold on Nov 11, 2020

Gold prices in India remained stable today with futures on MCX quoted at ₹50,460 per 10 gram. In the previous session, gold was up 1.0% or about ₹0 per 10 gram.

On MCX, silver futures remained stable at ₹62,790 per kg.

The gold spot price today ( ₹50,730) increased by ₹0 from yesterday ( ₹50,720), along with global spot prices growth of $1.0 to $1,879 value today. No change was seen in MCX future price as of today, and had a value of ₹50,460.

Currency Exchange Rate on Nov 11, 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.