June 30, 2022 2:24:39 pm
Gold, Silver Rates Today News Update: The rates of gold and silver opened lower in the key spot markets Thursday.
The 999 purity gold opened at Rs 50,970 per 10 grams, dropping Rs 189 from Wednesday’s closing price of Rs 51,159, while the 999 purity silver opened at Rs 59,500 per kg, down Rs 353 from the previous day’s closing price of Rs 59,853, the data available on India Bullion and Jewellers Association’s (IBJA) website showed.
|Bullion||Purity||Opening price (Rs)||Previous close (Rs)|
|Source: India Bullion and Jewellers Association (IBJA)|
The gold contract for the August delivery was trading at Rs 50,710.00 per 10 grams, down Rs 19.00 (0.04 %)at 12:37 PM on the Multi Commodity Exchange of India (MCX), while the silver contract for July delivery was trading at Rs 59,258.00 per kg, up Rs 197.00 (0.33 %) at 12:38 PM.
In the global market, gold was mostly quiet on Thursday, but faced its worst quarter since early 2021 as a remarkable showing from the dollar kept investors away, with bullion’s outlook clouded by top central banks adopting aggressive tactics to fight stubborn inflation, news agency Reuters reported.
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Spot gold was flat at $1,817.01 per ounce by 0615 GMT. US gold futures were little changed at $1,816.90, the report said.
Commenting on the gold prices, Nirpendra Yadav, Senior Commodity Research Analyst at Swastika Investmart said, “on Comex, gold is hovering around its support level of $1820, where a sell-on rise is an opportunity and in the near term, it may test the levels of $1800. In the last trading session, precious metals prices remained volatile during ‘the policy panel. The dollar, which moves opposite to Gold prices gained near 0.44% while the benchmark US Treasury yield slipped 3%.
The prices of precious metals may remain down today and selling pressure is expected if the price rises towards resistance levels. On MCX, Gold has resistance at 51200 and support at 50400. The silver September contract has resistance at 61300 and support at 58900.”
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