
Today MCX Gold Rate in India is Rs. 39,251.30 per 10 grams for 24 Karat
(10 grams = 1 tola gold)
Today MCX Gold Rate in India is Rs. 39,251.30 per 10 grams for 24 Karat
(10 grams = 1 tola gold)
Table of Content |
In India, gold has a great social and cultural significance. It symbolizes prosperity and wealth; therefore, it is an important part of various auspicious celebrations such as weddings, Diwali, Dhanteras and Akshaya Tritiya. The country’s affinity for the metal can be proven by the fact that it accounts for almost a quarter of the world’s total consumption; thus, making us the largest consumer in the world. India uses gold mainly in the form of ornaments and investments. The metal is considered to be an important part of an investor’s investment portfolio. Even commodity traders, invest a part in gold bullion. Gold-related investments are dictated by the prevailing gold rate in India. To get maximum benefit out of gold investments, it is important to monitor gold rate today and every other day as gold rates are subject to change due to various reasons. Some of the reasons are discussed below.
The following are the 10 major reasons why gold price today is different from what it was 10 years or even 10 days ago.
Unlike nations such as China, India uses gold predominantly in the form of ornaments and investments. Many financial experts believe that gold should be a part of every investor’s investment portfolio as the metal acts as a great hedge against various market uncertainties. Also, it has been observed that the value of this commodity in the long run always appreciates.
Also Read: How These 10 Factors Regularly Influence Gold Prices
Gold Weight Conversion Table
To convert from | To | Multiply by |
Troy ounces | Grams | 31.1035 |
Million ounces | Tonnes | 31.1035 |
Grams | Troy ounces | 0.032151 |
Kilograms | Troy ounces | 32.1507 |
Tonnes | Troy ounces | 08-Jan-88 |
Kilograms | Tolas | 85.755 |
Kilograms | Taels | 26.7172 |
Kilograms | Bahts | 68.41 |
Troy ounces | Grains | 480 |
Troy ounces | Avoirdupois ounces | 1.09714 |
Troy ounces | Penny weights | 20 |
Avoirdupois ounces | Troy ounces | 0.911458 |
Short tonne | Metric tonne | 0.9072 |
What are the different varieties of gold as per their ‘karat’ value?
The purity of gold is measured through a unit known as ‘Karat’, which is denoted by the letter ‘K’. High karat value signifies high gold purity. Let’s take a look at the different varieties of gold in terms of their karat value:
What is the difference between 24K and 22K gold?
People usually prefer to buy 24K and 22K gold for jewellery and investment purposes. If you are confused which one out of the two will be best suited for your requirements, learn more about them from the comparison table given below.
24K | 22K |
99.99% pure | 91.67% pure |
Mainly used to make coins and bars. Also used in the manufacturing of electronics and medical devices. | Mostly used to make ornaments and other decorative items. |
Has a distinct bright yellow colour. | Has a pale yellow colour which can be changed by mixing other metals. |
More expensive than 18K and 22K gold. | Lesser expensive than 24K gold but more expensive than 18K gold. |
Gold Price Trend in November 2019 | |
Trend | 24 Karat Gold (Rs/10gm) |
Rate on 01-November-2019 | 40,107.00 |
Rate on 30-November-2019 | 39,572.20 |
Highest Rate | 40,481.30 |
Lowest Rate | 39,411.80 |
Month Performance | Rising |
% Change | 1.33 % |
Gold Price Trend in October 2019 | |
Trend | 24 Karat Gold (Rs/10gm) |
Rate on 01-October-2019 | 39,465.20 |
Rate on 31-October-2019 | 40,000.00 |
Highest Rate | 40,267.40 |
Lowest Rate | 39,358.30 |
Month Performance | Decline |
% Change | -1.36 % |
Gold Price Trend in September 2019 | |
Trend | 24 Karat Gold (Rs/10gm) |
Rate on 01-September-2019 | 40,320.90 |
Rate on 30-September-2019 | 39,465.20 |
Highest Rate | 41,123.00 |
Lowest Rate | 39,090.90 |
Month Performance | Rising |
% Change | 2.12 % |
Gold Price Trend in August 2019 | |
Trend | 24 Karat Gold (Rs/10gm) |
Rate on 13-August-2019 | 39,144.40 |
Rate on 31-August-2019 | 40,641.70 |
Highest Rate | 40,855.60 |
Lowest Rate | 39,037.40 |
Month Performance | Decline |
% Change | -3.83 % |
How to check the purity of gold?
There are multiple ways of checking the purity of gold in India:
Gold rates are mainly influenced by global cues and therefore, it should ideally be same across the country. But it’s not the case. The gold rate in Kerala is not as same as the gold rate in Chennai. This is because in India multiple factors influence the current gold rate in various cities. Some of the key reasons why gold rate varies in various cities across India are:
How is the price of 22-Karat Gold determined?
India is a consumer and not a producer of gold. This implies that the country doesn’t mine gold. Earlier, places such as Kolar (Karnataka) used to have gold mines but now they are closed. Therefore, now India’s gold demand heavily lies on imports. The rate of imported gold is used to determine the rate of 22K gold in India. As far as the wholesale gold prices in India are concerned, gold importers like banks, many private companies, etc. play an important role in fixing it. Otherwise, gold rate is decided by the bullion association. When the gold is imported in the country, charges such as GST, etc. are levied on the imports. Then the gold is sold to wholesalers, who sell it to retailers across India, which again attracts charges. Also, gold rates change every day.
How much GST (tax) is imposed on 24K Gold?
Taxes calculated on gold depend on what it is used for. The taxes charged on the resource vary. Gold prices have slightly increased after the implementation of the Goods and Services Tax (GST). Before GST was launched, gold jewellers had to pay 1% excise duty, 1.2% VAT and 10% customs duty on bullion purchase. This effectively summed up to 12.43% tax on gold. Now, gold jewellers will have to pay 3% GST on gold, an import duty of 10% and 18% tax on making charges of the jewelry. Prior to GST, no tax was imposed on making charges of the jewelry. This effectively comes to 15.67%. Hence, buyers will have to pay an additional 3.24% as tax under the GST regime.
What are the various gold options available to buyers?
Physical gold is usually available in 24 Carat (purest), 22 Carat (jewellery grade), 18 Carat (less precious) variants and can be purchased in a variety of forms such as:
Common Forms of Gold Purchase without Physical Gold Holdings
In India, gold has long been associated with wealth and prosperity and the metal has also been considered the perfect gift for festive and a variety of religious occasions such as marriage ceremonies. Traditionally, investing in gold has always been considered safe as gold prices have historically gone up over a period of time and they are considered to be easier to liquidate as compared to other assets such as property hence, a preferred investment option during difficult times.
Rural India deserves a special mention as it accounts for nearly two-thirds of the total demand for gold in India. However, demand in rural India has been a bit bleak owing to inflation and decreased wages, compounded by demonetization. In India, about 8% of savings of rural households go towards buying gold, primarily jewelry. So, any impact on wages (especially the one triggered by demonetization) has dampened the demand for gold. Further, demand will pick up only after incomes stabilize and more currency is available in the market.
Gold has always been considered a good investment in India. Due to gold investments being considered as a hedge against hard times, Indians have historically chosen to maintain at least a portion of their assets in the form of gold as they could easily be liquidated in case of emergencies in comparison to land estates and other property. Gold is also much easier to transport if it was necessary to move assets from one location to another in hurry. Traditionally gold investments in India have been made mainly in the form of jewelry. However, gold bullion i.e. bars as well as coins, have also been considered in recent times from an investment perspective.
Must Read: Raising The Curtains On The Gold Monetization Scheme
Common Formats for Gold Purchase in a Physical Form
Physical gold usually available in 24 karat (purest), 22 karat (jewellery grade), 18 karat (less precious) variants may be purchased in a variety of forms such as:
Common forms of gold purchase without physical gold holdings include (Gold ETFs vs Sovereign Gold Bonds):
The amount of money received at the time of liquidation for these paper/demat instruments would be affected by the prevailing price of gold in domestic/global markets.
Must Read: Why You Should Buy Sovereign Gold Bonds Over Physical Gold
Out of all precious metals, gold is the most popular investment option. For most Indian investors, gold is a big part of their investment portfolios to diversify the overall market risk. Just like shares and mutual funds, gold too is subject to volatility and speculation. While gold rates may change over time, its value relatively remains the same. In comparison with many other asset classes, the returns on gold investments are high provided you stay invested in it for a long term. It is considered to be the most stable investment option and the most effective hedge against inflation and global crisis.
Traditionally, people buy gold in India in the form of ornaments, bars and coins. Even now many people prefer investing traditionally but besides these options investors have other lucrative choices such as Gold ETFs (Exchange Traded Funds), Gold Mutual Funds, Sovereign Gold Bonds, etc. Gold is also traded as a commodity on commodity exchanges. The best part is that most of these modern investments can be done online anytime and from anywhere.
Gold as a Trading Commodity in India
Commodities trading are a relatively new development in India and gold is one of the key commodities that are being traded in India’s commodities exchanges. You can carry out gold trading through any of the three dedicated commodities exchanges – National Multi Commodity Exchange of India Ltd., Multi Commodity Exchange of India Ltd. and the National Commodity and Derivative Exchange. All three exchanges have a pan-India presence and offer electronic trading/settlement systems. Being a separate entity, the exchanges are regulated by the Forward Markets Commission.
The commission advises the Central Government on matters such as giving or withdrawing recognition to any association. It collects and publishes information about the prices, and supply and demand of any commodity or goods including gold. The commission also has the power of deemed civil court for receiving evidence on affidavits and requisitioning for discovery and production of any related document. Commodities exchange brokers are not required to register themselves with a regulator.
An individual who wants to invest in commodities can start with an investment corpus as low as Rs. 5,000 and the trades may be completed without having a Demat account either. However, a dedicated commodity, demat account from the National Securities Depository Ltd. is mandatory for trades on the NCDEX similar to stocks. The individual also has to go under a normal account contract with the broker and provide details such as Aadhar Card, PAN card no. and bank account no. to complete the process of identification.
Gold Futures Contracts on MCX:
MCX India trades in the futures of gold as well as a range of commodities and also in energy futures. Currently, MCX offers multiple gold futures contracts options for the interested investors:
In the following table, we will compare some key criteria of the available gold futures contracts options on the MCX:
Futures Type | Trading Limit | Max. Order Size | Base Price Limit | Tick Size | Initial Margin |
Gold | 1kg | 10kg | 3% | Re. 1/10gms | Min. 4% |
Gold Mini | 100gm | 10kg | 3% | Re. 1/10gms | Min. 4% |
Gold Guinea | 8gm | 10kg | 3% | Re. 1/8gms | Min. 4% |
Gold Petal | 1gm | 10kg | 3% | Re. 1/gm | Min. 4% |
Gold Petal (New Delhi) | 1gm | 10kg | 3% | Re. 1/gm | Min. 5% |
Gold Global | 100gm | 10kg | 3% | Re. 1/10gms | Min. 5% |
Why is gold considered a valuable asset?
The primary reason that drives the value of gold is its rarity. Though several thousand metric tonnes of gold have been mined through the centuries, gold constitutes only a fraction of the quantity of metal in circulation today when compared to more common metals like iron and aluminium. The other factor that affects gold rate is the cost of manufacturing and purifying it. Due to its rarity, extreme care is taken when gold is purified so that losses are minimised and at the same time, only small quantities of gold are purified at a single go, which drives up the unit pricing gold gold (per gram pricing). Gold has some financial advantages as well such as:
Demand for Gold in India
In India, gold has long been associated with wealth and prosperity and the metal has also been considered the perfect gift for festive and a variety of religious occasions such as marriage ceremonies. Traditionally, investing in gold has always been considered safe as gold rates have historically gone up over a period of time and they are considered to be easier to liquidate as compared to other assets such as property hence, a preferred investment option during difficult times.
Gold has always been considered a good investment in India. Due to gold investments being considered as a hedge against hard times, Indians have historically chosen to maintain at least a portion of their assets in the form of gold as they could easily be liquidated in case of emergencies in comparison to land estates and other property. Gold is also much easier to transport if it was necessary to move assets from one location to another in hurry. Traditionally gold investments in India have been made mainly in the form of jewellery. However, gold bullion i.e. bars as well as coins, have also been considered in recent times from an investment perspective.
Must Read: Raising The Curtains On The Gold Monetization Scheme
How to Sell Gold in India?
Before selling your gold, there are a few dos and don’ts that one will have to follow to get the most bang for the buck when finally selling off their gold assets in physical form.
Ques. What is the Difference between Carat and Karat?
Ans. The word “carat” is a measure of mass, wherein, 1 carat equals 200 mg. Normally, diamonds and gemstones are measured using this measure and higher the carat value, greater the price of the gemstone. Karat on the other hand, is a measure of purity with respect to gold and common karat values are 24 karat, 22 karat, 18 karat and so on. Again, higher the karat value, greater will be the gold rate.
Karat: Gold is one of the soft metals and it needs to be added with different metal alloys to make jewellery. Usually, alloys like copper, zinc, and nickel are used for this purpose. A 24 karat rating denotes that the gold has the least form of alloys in it, while a 12 karat indicates that it has a 50% ratio of alloys in it. Also, any gold less than 10 karat is not considered gold at all. In India, the most preferred form of gold is 22 karat.
Carat: It is the weight of the precious stones and pearls and especially used for weighing diamonds. One carat is equal to 200 mg, also written as 0.2 gm in some places. This measurement is based on the popularly used metric system.
Ques. How much is one tola gold?
Ans. Use of ‘karat’ as the unit for measuring gold is a recent phenomenon. In ancient India, gold was measured in tolas. One tola is equal to 11.66 grams.
Ques. How is gold brought into India?
Ans. As mentioned in the beginning, India has minuscule gold reserves and depends largely on the global commodities market to meet its demand for the yellow metal. The country’s central bank gets the gold imported and divides it among distributors who, in turn, supply it to large retailers or jewellers.
Ques. Why gold always retains its value?
Ans. Gold will always retain its future value because it is the ultimate form of money. People have valued gold since the beginning of civilisation despite innumerable changes in the socio-economic and political structures across the history of mankind. The gold rate has never been zero and it has never defrauded an investor. Human civilisation understands the value of gold because we have chosen it and history has proven its zero counterparty risks.
Ques. How to buy gold bullion?
Ans. Gold bullion or gold in the form of coins and bars may be bought by an individual investor in India through leading jewellers as well as selected banking organisations. In case of 24K gold bars, the purchase denomination ranges from 5 gm to 100 gm and these are provided along with a certificate of purity through selected bank branches and jewellery stores across India. The limited availability and high investment volumes with regards to gold bars make these a preferred choice for serious investors. However, gold bars are not accepted by banks and NBFCs as security for a gold loan.
Ques. How much is an ounce of gold worth today?
Ans. Ounce, also known as troy ounce, is an imperial measure of gold that equals 31.1035 grams of gold. As gold rate changes daily and differ from one city in India to another, the gold price of an ounce would also vary accordingly. Thus, if the price of gold today is Rs. 3,000 /gram, then, an ounce of gold would be worth Rs. 3,000 x 31.1035 = Rs. 93,310.50. However, the same ounce of gold could be worth slightly more or less tomorrow depending on the change in the gold price.
Ques. Is gold BIS-hallmarked?
Ans. It is absolutely essential that you buy BIS-hallmarked gold. India has close to 14,000 BIS-hallmarked jewellery showrooms and approximately 330 hallmarking centres recognised by BIS.
Ques. What is the per gram price of gold?
Ans. As price of gold changes with every city and every day, do check the gold rate on the day you intend to buy gold jewellery. It is important to check gold prices today in order to ensure you are getting the optimum value from your jewellery.
Ques. How much gold are you getting for your money?
Ans. When buying gold jewellery, besides gold rate, several additional charges are also levied such as making and wastage charges. So, before making payment, ensure that you know the worth/value of the gold you are buying.
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14 Nov, 2018 – In the national capital, gold prices of 999 and 995 fine gold fell by Rs. 150 to Rs. 31,900 and Rs. 31,750 per 10 gram, respectively. Sovereign, however, continued to be at Rs. 24,800 per piece of 8 gram. As per traders, the slight drop was due to weak position of the precious metal in the global market. Moreover, the fading demand from local jewellers and retailers at the domestic spot market maintained pressure on gold prices. Globally, gold fell by 0.08 per cent to $1,201.90 an ounce and silver by 0.11 per cent to $14.07 an ounce in Singapore Wednesday. Silver ready remained steady at Rs. 37,450 per kg while the weekly-based delivery fell by Rs 443 to Rs 36,219 per kg on speculative selling. Silver coins also fell by Rs 1,000 to Rs 73,000 for buying and Rs 74,000 for selling of 100 pieces. |
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13 Nov, 2018 – On Tuesday, at the bullion market, the capital city witnessed a drop in gold prices. The prices of 99.99 per cent and 99.5 per cent pure gold fell by Rs. 100 each to Rs. 32,050 and Rs. 31,900 per 10 grams, respectively. Despite firm gold price trend across overseas markets, the prices dropped due to the lacklustre demand for gold by local jewellers and retailers. Silver too followed the same path and cracked below Rs. 38,000-mark by dropping by Rs. 700 to Rs. 37,450 per kg due to reduced off take by industrial units and coin makers. Post-festive season as the demand reduced, silver coins too slipped by Rs 1,000 to Rs 74,000 for buying and Rs 75,000 for selling of 100 pieces. However, sovereign gold remained flat at Rs 24,800 per piece of 8 grams. Globally, gold increased by 0.22% to $1,203.50 an ounce and silver by 0.68% to $14.18 an ounce in Singapore. |
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12 Nov, 2018 – On Monday, the gold prices of 999 and 995 fine gold were recovered by Rs 80 each to Rs 32,150 and Rs 32,000 per 10 gram, respectively. The reason for such an increase is the wedding season. Jewellers are buying gold to meet the wedding season demand. Silver too is going higher than before by Rs. 150 at Rs. 38,150 per kg. The depreciation of rupee against the dollar by 54 paise to 73.04 is also supporting the upside in gold prices in India and is also making the imports costlier. Overseas, the weak silver price and gold price has capped the gains. |
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10 Nov, 2018 – At bullion market, during the week, gold prices dropped from near 6-year high by Rs. 580 to Rs. 32, 070 per 10 g. The reason for the drop is credited to the fall in demand from jewellers and retailers due to the end of the festival season in India. Besides, a weak gold trend abroad also damped the spirit as the dollar firmed after the US Federal Reserve kept the rates of interest steady, thus reducing the appeal of gold as a safe heaven. Nationally, gold of 99.9 and 99.5 per cent purity dropped slowly to end the week lower by Rs. 580 each to Rs. 32,070 and Rs. 31,920 per 10 g, respectively. Globally, gold dropped to $1,210.40 and silver at $14.25 an ounce against previous week’s closing of $1,233.20 and $14.82 an ounce. |
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12 Sep, 2018 – Amidst the depreciating value of rupee, RBI adds another 6.8 t of gold to Forex reserves. In July, the central bank added 6.8 t, which has been the highest monthly accretion after 2009. This came at a time when RBI spent more than $25 billion defending the falling rupee. After buying 200 t of gold from IMF in 2009, the central bank made its first token purchase in December, 2017 with 300 kg and then added more than 2.2 t in March this year. As per a data compiled by the World Gold Council, in 2018-19, in four months, RBI added 12.7 t of gold, out of which 11.2 t was purchased in June and July. Analysts tracking the international gold reserves say that the need was felt because countries like Russia, Turkey and China have been adding gold to their reserves to diversify their Forex reserves. |
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10 Sep, 2018 – This year, due to sharp increase in shipment from Cochin SEZ, gold jewellery has outdone the broad trend in India’s Gems and Jewellery (G&J) exports in April and July. As per a data compiled by the Gems and Jewellery Export Promotion Council (GJEPC), India’s overall net G&J exports remained flat at worth $10.638 billion between April and July in 2018 as compared to $11.126 billion in the corresponding period last year. However, the overall gold jewellery exports have more than doubled to $4.28 billion this year from $2.095 billion the same period last year. |
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05 Sep, 2018 – As per provisional data from metals consultancy, GFMS, India’s August gold imports were more than double as lower gold prices encouraged manufacturers to top up inventory for a jewellery exhibition. The rising gold imports could broaden India’s trade deficit and pressure its currency further, which already has hit a low record of 71.95 against US Dollar on Wednesday. In September, gold imports are likely to moderate as gold prices have recoiled in the last few days due to the depreciating rupee. In the final quarter, the demand for gold usually strengthens as India gears up for festivals and wedding season. |
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04 Sep, 2018 – As per media reports, gold has fallen 1.5% from Aug 28 high as currency weakness in emerging markets and worries over global trade disputes strengthened dollar, making bullion more expensive for investors with other currencies. After falling on Tuesday to $1,189.20, Spot Gold gained 0.5% to $1,196.40 per ounce. Gold has declined more than 12% in April as the dollar rose to 14-month highs. An 8% drop in the holdings of Gold ETFs has also pressured the gold rate since late May. Global trade concerns continue to support dollar. The technical picture would remain mixed unless gold closes above $1,200.70. |
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31 Aug, 2018 – Gold’s shine fades as Dollar and U.S. equities continue to ascend. According to media report, Bullion for immediate delivery has lost 1.5% in August. Gold rates are down 7.4% this year, while the Bloomberg Dollar Spot Index has risen 1.7%. Latest developments on the trade war front have further aided the dollar. According to McCarthy, the trade war might slow global growth but it isn’t seen as crisis and therefore is less likely to spur haven buying. Besides gold, silver is still set for third consecutive monthly loss despite gaining 0.8% to $14.6672 an ounce. Platinum follows the same path as silver as it sets for a 3rd monthly drop despite rising by 1.2%. |
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27 Aug, 2018 – This week, the demand for physical gold in India remained modest as the top gold consuming state, Kerala, coped with floods. Usually, gold demand in Kerala during the festival of Onam increases. However, this year, the state is dealing with the natural disaster which has caused damage of at least 200 billion rupees, thus the demand is low. Due to the depreciating value of rupee, the local gold rates have increased to more than 1 percent in a week. After falling to ₹29,268 last week, gold futures on Friday in the Indian market slightly rose to ₹29,635 per 10g. |
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20 Aug, 2018 – In the morning trade today gold rates inched higher. Precious metal silver too logged big gains. The rates of MCX Gold Futures were ₹102 higher at ₹29,451 per 10 grams and at the same time the rates of MCX Silver Futures were up by ₹198, at ₹36,976 per 1 kg. Moreover, holdings of the SPDR Gold Trust GLD’s holdings stood at 772.24 down 1.17 tonnes, from the previous business day. And the holdings of the New York’s iShares Silver Trust SLV remained unchanged from the previous business day as it stood at 10236.28 tonnes. On the global front, gold prices inched higher in the early trade. |
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18 Aug, 2018 – Today’s gold rates drop by ₹90 to ₹30,250 per 10 grams at the bullion market. Despite the yellow metal grew stronger overseas, the gold rates today continued the downward trend at the market due to tepid demand from local jewellers. As far as the silver is concerned, it held its position steady at ₹38,000 per kg. Globally, the gold rate in New York on 17th August, 2018 inched up by 0.93% to $1,184.60 ounce. On the other hand, silver rose by 0.99% to $14.77 an ounce. The gold rate in Delhi declined by ₹ 90 each to 30,250 per 10 grams and the sovereign too traded lower by ₹100 to ₹24,400 per piece of 8 grams. |
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17 Aug, 2018 – Gold rates inch up on Friday as dollar was steady. Spot gold rose 0.3% at $1,77.38 an ounce, as of 0047 GMT. As far as the last session is concerned, the metal had hit a 19-month low at $1,159.96. Gold was down 2.8% for the week and set to record a 6th consecutive weekly drop. US futures remained unchanged at $1,184 an ounce. Against other major currencies, dollar slightly changed after nudging away from 13-1/2-month ups amid easing risk aversion and as investors waited the next developments in the US-China trade. |
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16 Aug, 2018 – On Aug 16, in the late morning deals, precious metals Gold and Silver were trading with huge losses. The MCX Silver futures dipped by 2.85%, or Rs 1,078, at Rs 36,721 per 1 kg at 11:04 a.m. And at the same time, the MCX Gold futures were trading at 1.14%, or Rs. 338 lower at Rs. 29,397 per 10 gms.As per the media reports, gold pared heavy early loses on the global platform. The loss came in the middle of a broad commodity sell-off, bouncing off of a 10-month low on short covering and a softer dollar following news that Beijing will hold trade talks with Washington this month. |
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14 Aug, 2018 -On Aug 14, as dollar pared gains after posting a 13-month high in the last session, the gold prices traded steady but were close to an 18-month low. As per media sources, the US gold futures were up 0.1 per cent at $1,200.5 an ounce and the spot gold was on the rise by 0.1% at $1,194.13 an ounce.After climbing to a 13-month high on Monday, the dollar index was down by about 0.1% at 96.339 early Tuesday. Also, Asia share markets tried to gain their footing as the shocks from the downfall of the Turkish Lira subsided a little and Wall Street proved resistant to the shockwaves. SPDR Gold Trust’s holdings dropped 0.19%. India’s gold imports went up in July after a fall in the prices ahead of a jewellery exhibition prompted jewellers to replenish stocks, provisional data from metals consultancy GFMS showed. |
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06 Aug, 2018 – Gold rises by ₹35 at the bullion market due to persistent buying by local jewellers. However, a weak trend overseas constricted the gains. Silver too edged up by ₹100 due to increased off take by industrial units and coin makers. On the global scale, gold dropped 0.17% to $1,211.20 and silver by 0.29% to $15.33 an ounce in Singapore. In Delhi, 99.9% and 99.5% pure gold gained ₹35 each to ₹30,585 and ₹30,435 per 10 grams, respectively. However, sovereign remained flat at ₹24,600 per piece of eight grams in limited deals. Similarly, silver strengthened by ₹100 to ₹39,200 per kg, while weekly-based delivery drifted lower by ₹160 to ₹37,910 per kg. |
*Disclaimer : The gold price given in this site is provided by sources which we consider are authentic and reliable. We have made every effort to make sure the gold price shown here are accurate. However, this data is intended for information purpose only and should not be considered as investment advice. We accept no liability for any loss arising from the use of the above data. Please contact your investment advisor before making investment decisions.