On Wednesday, gold prices dropped to Rs 53,424 from Rs 53,815 in morning trade, despite the positive trend seen in the international spot prices.
According to the India Bullion and Jewellers Association (IBJA), a Mumbai-based industry body, the rate without GST for gold (purity-999) is Rs 53,424, while for gold with purity-995 is Rs 53,210 on August 19. Meanwhile, silver prices also dropped to Rs 67,135 from Rs 69,998 per kilogram.
Gold prices according to purity levels are as follows:
999 - Rs 53,424/-
995 - Rs 53,210/-
916 - Rs 48,936/-
750 - Rs 40,068/-
585 - Rs 31,253/-
According to a report by moneycontrol.com, on the Multi-Commodity Exchange (MCX), October gold contracts were trading lower by 0.4 percent at Rs 53,340 per 10 gram at 0920 hours. September silver futures were trading at Rs 69,093 per kg, down 0.5 percent.
The rupee appreciated 7 paise to 74.69 against the US dollar in opening trade on Wednesday supported by positive domestic equities and sustained foreign fund inflows. On the domestic equity market front, the 30-share BSE benchmark Sensex was trading 161.08 points higher at 38,689.40 and broader NSE Nifty advanced 47.30 points to 11,432.65.
Foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs 1,134.57 crore on Tuesday, according to provisional exchange data. Brent crude futures, the global oil benchmark, slipped 0.75 per cent to USD 45.12 per barrel.
(Inputs from Agencies)
