Today, the price of gold is at Rs 51,092 for 24-karat gold per 10 gram, according to IBJA. Meanwhile, 22-karat gold per 10 gram is priced at Rs 46, 800 excluding taxes and other charges. This rise in gold prices in the domestic market is mainly due to selling off in global equities.
On September 3, gold was priced at Rs 50,844 per 10 gram. However, when the market closed on September 3, the metal was priced at Rs 50,927 per 10 gram. Today, it went up by Rs 248, according to IBJA.
Meanwhile, on MCX, October gold futures rose tp Rs 50,911 per 10 gram while silver futures advanced to Rs 67,080 per kg.
For the last three days, the prices of gold had seen a drop but today, it is back. In August for the first time, the prices of gold in India touched Rs 56,200 mark.
After the COVID-19 outbreak, gold has been rallying for some time. Due to profit booking and hopes of COVID-19 vaccine, the yellow metal prices become volatile.
For the whole last week, the gold prices were below Rs 51, 500 per 10 gram.
While gold is trading in the green, silver has witnessed a drop in prices. On September 1, silver was sold at Rs 67, 630, today the metal is sold at Rs 63, 534 per kg.