Gold Price Update on August 18: Yellow metal price jumps to Rs 54,111 per 10 gram

Gold and silver prices moved higher today in Indian markets, in line with firm international trend. Gold prices on Tuesday rose to Rs 54,111 from Rs 52,874 per 10 gram in morning trade.

According to the India Bullion and Jewellers Association (IBJA), a Mumbai-based industry body, the rate without GST for gold (purity-999) is Rs 54,111, while for gold with purity-995 is Rs 53,894 on August 18. Meanwhile, silver prices also rose to Rs 69,496 from Rs 68,034 per kilogram.

Gold prices according to purity levels are as follows:

999 - Rs 54,111/-

995 - Rs 53,894/-

916 - Rs 49,566/-

750 - Rs 40,583/-

585 - Rs 31,655/-

According to a report by moneycontrol.com, on the Multi-Commodity Exchange (MCX), October gold contracts were trading higher by 0.33 percent at Rs 53,449 per 10 gram at 0920 hours. September silver futures were trading at Rs 70,029 per kg, up 1.2 percent.

Fresh positions built up by participants led to the rise in gold prices, analysts said. Gold prices traded higher at USD 1,987.51 per ounce in New York.

Meanwhile, the key Indian equity indices traded in the green on Tuesday morning with the BSE Sensex rising over 260 points. Healthy buying was witnessed in consumer durables, IT and auto stocks.

Around 10.20 a.m, Sensex was trading at 38,314.89, higher by 264.11 points or 0.69 per cent from the previous close of 38,050.78. It opened at 38,084.70 and has so far touched an intra-day high of 38,332.01 and a low of 38,062.01 points. The Nifty50 on the National Stock Exchange was trading at 11,313.40, higher by 66.30 points or 0.59 per cent from its previous close.

(Inputs from Agencies)

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