ADVERTISEMENT
All You Need To Know About Latest Gold And Silver Rates
19 Aug 2020, 10:28 AM IST 
Gold, Silver Rate Today: The price of gold jewellery ended at Rs 53,815/10 grams on Tuesday
- Multi Commodity Exchange (MCX) gold futures ended with a gain of Rs 298 - 0.56 per cent - at Rs 53,573, having risen to as high as Rs 53,999 during the session. The derivatives contract has a delivery date of October 5.
- Silver futures (September 4) settled at Rs 69,575, up Rs 420 or 0.61 per cent from their previous close, after climbing to as high as Rs 71,350 during the session.
- Globally, spot gold rose on Tuesday slipped below the key $2,000-per-ounce mark after the US equity benchmark S&P 500 touched a record high. It was last seen trading 0.7 per cent higher at $1,999.76 per ounce, having earlier registered a one-week high of $2,014.97 per ounce.
- Silver climbed 1.4 per cent to $27.78 per ounce, after rising as much as 3.8 per cent during the session.
- The price of gold jewellery settled at Rs 53,815 per 10 grams (excluding GST) on Tuesday and that of silver jewellery at Rs 69,998 per kilogram, according to Mumbai-based industry body India Bullion and Jewellers Association.
- Analysts await minutes from the US central bank's last meeting, due on Wednesday, for near-term cues for the precious metal.
- Gold has surged 32 per cent this year, helped by a rush to perceived safety in the yellow metal, often considered a hedge against inflation and currency debasement.
- Back home, MCX gold futures had on August 7 registered an all-time high of Rs 56,191 tracking a rally in precious metals globally, having broken a series of records in the recent past.
- That was within 25 days of MCX gold futures touching the Rs 50,000 mark for the first time ever.
- Other than physical gold, there are a number of ways to invest in gold, such as exchange traded funds, gold funds managed by fund managers (similar to mutual funds), Sovereign Gold Bonds and gold derivatives (futures & options). (Also Read: How To Invest In Gold)