India: Gold Price Today
Gold Rate Today 30 September 2020: As it was estimated that the softening in the price of gold is momentary, it has started happening in the same way. On Tuesday, there was a significant rise in the price of gold. Gold remained below 50 thousand rupees for about a week, on Tuesday, it reached near 51 thousand rupees. According to the India Bullion and Jewelers Association, gold rose by nearly Rs 700 to Rs 50447 in the retail market on Tuesday. Earlier on Monday, gold had closed at a price of 49757 rupees. Also Read – Today Gold Price: In last 10 days, gold and silver are getting the cheapest, know what is the new price ….
The retail market also saw a spurt in silver price on Tuesday (Silver Price Today 30 September 2020). On Tuesday, the price of one kg of silver reached Rs 60370. It rose more than two thousand rupees a day in one day.
On the other hand, in the local bullion market on Tuesday, gold rose by Rs 663 to Rs 51,367 per ten grams in line with the fall in the rupee against the dollar and the rise in international prices. According to HDFC Securities, the closing price of gold was Rs 50,704 per ten grams on the previous trading day. Also Read – Gold / Silver Price Today 19 September: Gold and Silver price rises in a week, know what is the rate in your city, is the right time to buy?
At the same time, the price of silver also rose by Rs 1,321 to close at Rs 61,919 per kg, which was Rs 60,598 per kg on Monday.
HDFC Securities Senior Analyst (Commodities Market) Tapan Patel said, “With the weakening of the rupee and the gain in international prices, the 24-carat gold spot in Delhi rose to Rs 663.
On Tuesday, the rupee weakened by seven paise to close at 73.86 per dollar (preliminary figures) in the inter-bank foreign exchange market.
In the international market, gold gained $ 1,882 an ounce, while silver remained unchanged at $ 23.56 an ounce.
Patel said that before the election debate between the presidential candidates in the US, gold prices rose sharply.
Meanwhile, speculators created fresh positions on the back of strong spot demand, as gold rose by Rs 187 to Rs 50,320 per 10 grams in the futures market on Tuesday.
In October, the price of delivery contracts in MCX rose by Rs 187, ie 0.37 per cent to Rs 50,320 per 10 grams. It traded for 336 lots.
Market analysts said fresh buying by traders led to rise in gold futures. In New York, gold rose 0.20 percent to $ 1,886 an ounce.
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