Gold Price Update on August 14: Yellow metal price rises to Rs 52,956 per 10 gram

On Friday, gold prices rose to Rs 52,956 per 10 gram in morning trade on the back of fresh demand. In the previous trade, the yellow metal had closed at Rs 52,701 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 52,956, while for gold with purity-995 is Rs 52,744. Meanwhile, silver prices also rose to Rs 68,676 from Rs 67,439 per kilogram on Friday.

Gold prices according to purity levels are as follows:

999 - Rs 52,956/-

995 - Rs 52,744/-

916 - Rs 48,508/-

750 - Rs 39,717/-

585 - Rs 30,979/-

Meanwhile, on the Multi-Commodity Exchange (MCX), October gold contracts were trading lower by 0.6 percent at Rs 52,580 per 10 gram at 0915 hours. Silver was at Rs 70,259 per kg, down 1.1 percent, reported moneycontrol.com.

In the international market, gold was trading with gains at USD 1970.40 per ounce, while silver was flat at USD 27.72 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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