Big change in gold and silver prices, know today’s latest price
Gold Price Today 26 August 2020: Gold-silver rate continues to fall. On Wednesday, 24-carat gold became cheaper by Rs 266 per 10 grams and opened at Rs 51188 in Sarafa Bazar across the country and later closed down by Rs 344 per 10 grams at Rs 51110. On the other hand, silver was seen falling in the morning. Silver spot prices fell by Rs 2053 to Rs 62541 in the bullion market. In the evening, its price strengthened slightly and finally it was cheaper by Rs 1520 per kg and closed at Rs 63074. According to the India Bullion and Jewelers Association website (ibjarates.com) on 26 August 2020, the gold and silver spot prices across the country were as follows…
26 August Final Rate
| Metal | Rate of 26 August (Rs / 10g) | 25 August rate (Rs / 10g) | Rate change (Rs / 10g) |
| Gold 999 (24 carat) | 51110 | 51454 | -344 |
| Gold 995 (23 carat) | 50905 | 51248 | -343 |
| Gold 916 (22 carat) | 46817 | 47132 | -315 |
| Gold 750 (18 carat) | 38333 | 38591 | -258 |
| Gold 585 (14 carat) | 29899 | 30101 | -202 |
| Silver 999 | 63074 Rs / Kg | 64594 Rs / Kg | -1520 Rs / Kg |
Gold futures rise due to spot demand
On the other hand, speculators bought fresh positions due to strong spot demand, leading to a rise of Rs 84 to Rs 51,008 per 10 grams in the futures market on Wednesday. At the Multi Commodity Exchange, the delivery gold contract price rose by Rs 84, or 0.16 per cent, to Rs 51,008 per 10 grams in October. It traded for 15,726 lots. In the international market, New York gold rose by 0.18 percent to $ 1,926.60 an ounce.
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Gold and silver morning rate in Saraf Bazar
| Metal | Rate of 26 August (Rs / 10g) | 25 August rate (Rs / 10g) | Rate change (Rs / 10g) |
| Gold 999 (24 carat) | 51188 | 51454 | -266 |
| Gold 995 (23 carat) | 50983 | 51248 | -265 |
| Gold 916 (22 carat) | 46888 | 47132 | -244 |
| Gold 750 (18 carat) | 38391 | 38591 | -200 |
| Gold 585 (14 carat) | 29945 | 30101 | -156 |
| Silver 999 | 62541 Rs / Kg | 64594 Rs / Kg | -2053 Rs / Kg |
Explain that the rate issued by IBJA is universally accepted. However, GST has not been included in the rate given on this website. When buying and selling gold, you can refer to the rate of IBJA. According to Rajesh Khosla, media in-charge of the India Bullion and Jewelers Association Delhi, ibja shows the average price of gold and silver from 14 centers across the country. Khosla says that the current rate of gold-silver or, say, the spot price may be different at different places but there is a slight difference in their prices.
Silver futures rise
In futures trading, silver rose by Rs 195 to 64,202 per kg on Wednesday. At the Multi Commodity Exchange, silver for delivery in September rose by Rs 195, or 0.30 per cent, to Rs 64,202 per kg with a turnover of 8,070 lots. Market analysts said that fresh buying by traders on positive domestic trend led to rise in silver futures prices. Globally, silver rose 0.64 percent to $ 26.60 an ounce in New York.
Reasons for the fall in the spot price of gold
Internationally, gold prices have fallen below $ 1920 an ounce. The US dollar has rebounded strongly due to good economic data. At the same time, the rise in US bond yield, expectation of treatment of corona and possibility of trade deal between US-China has started putting pressure on gold. This is why gold rates are falling.
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