Gold Price Update on August 13: Yellow metal price rises to Rs 52,731 per 10 gram

On Thursday, gold prices rose to Rs 52,731 per 10 gram in morning trade on the back of fresh demand. In the previous trade, the yellow metal had closed at Rs 52,626 per 10 gram.

According to the India Bullion and Jewellers Association (IBJA), a Mumbai-based industry body, the rate without GST for gold (purity-999) is Rs 52,731, while for gold with purity-995 is Rs 52,520. Meanwhile, silver prices also rose to Rs 66,256 from Rs 65,749 per kilogram on Thursday.

Gold prices according to purity levels are as follows:

999 - Rs 52,731/-

995 - Rs 52,520/-

916 - Rs 48,302/-

750 - Rs 39,548/-

585 - Rs 30,848/-

Meanwhile, On the Multi-Commodity Exchange (MCX), October gold contracts were trading lower by 0.07 percent at Rs 52,218 per 10 gram at 0915 hours. Silver was at Rs 67,059 per kg, up 0.4 percent, reported Moneycontrol.com.

In the international market, gold was trading with gains at USD 1,930 per ounce, while silver was quoting at USD 25.70 per ounce. Futures of gold and silver which were touching new highs every other day lately have started to falter in line with international markets and traders booking profits. The fall in gold prices, which is considered as a safe haven asset, has also been induced post Russia's announcement that it has developed the first vaccine for novel coronavirus.

(Inputs from Agencies)

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