Gold Rate Today 24 August: Gold price in India declines marginally, silver tanks Rs 246; know today's rates
New Delhi | Jagran News Desk: Gold prices on Monday, August 24, 2020, declined to Rs 53,040 per 10 gram in the national capital, a marginal dip of Rs 44 against Rs 53,084 per 10 gram during the previous trade on Friday. Besides gold, another precious metal silver also declined by Rs 206 to Rs 68,202 per kg from Rs 68,408 per kg in the previous trade.
"Spot gold prices for 24 carat in Delhi traded volatile with rupee fluctuation as prices pared early gains with sharp rupee appreciation," PTI quoted HDFC Securities Senior Analyst (Commodities) Tapan Patel as saying.
In the international market, gold was trading with gains at USD 1,950 per ounce, while silver was quoting flat at USD 26.80 per ounce.
Earlier last month, the gold prices crossed the mark of Rs 50,000 for the first time ever. On Multi Commodity Exchange (MCX), the prices as for August gold futures recorded a surge of 1 per cent taking the absolute price to Rs 50,010 per 10 gram.
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Gold has been a popular hedge against inflation with investors increasingly looking at the precious metal for investment. During the coronavirus lockdown, while share markets were volatile many investors turned towards gold as a relatively safer investment.
Posted By: Shashikant Sharma