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Gold Rate, Silver Rate Today: Gold and silver prices opened higher in Mumbai’s spot market on Thursday, August 25, 2022.
The opening price for 999 purity gold was Rs 51,958 per 10 grams, up Rs 328 from Wednesday’s closing price of Rs 51,630, while that of 999 purity silver was Rs 55,785 per kg, up Rs 561 from Rs 55,224, the data available on India Bullion and Jewellers Association’s (IBJA) website showed.
| Bullion | Purity | Opening price (Rs) | Previous close (Rs) |
| Gold | 999 | 51,958 | 51,630 |
| 995 | 51,750 | 51,423 | |
| 916 | 47,594 | 47,293 | |
| 750 | 38,969 | 38,723 | |
| 585 | 30,395 | 30,204 | |
| Silver | 999 | 55,785 | 55,224 |
| Source: India Bullion and Jewellers Association (IBJA) | |||
On the Multi Commodity Exchange of India (MCX), the gold contract for October delivery was trading at Rs 51,770.00 per 10 grams, up Rs 331.00 (0.64 per cent) at 1:00 pm while the silver contract for September delivery was at Rs 55,690.00, up Rs 753.00 (1.37 per cent).
In the international market, spot gold was up 0.3 per cent at $1,756.64 per ounce, as of 0548 GMT, while US gold futures gained 0.4 per cent to $1,769.00, according to Reuters data.
Commenting on the bullion market, Tapan Patel, Senior Analyst (Commodities) at HDFC Securities said, “Gold prices traded firm on Thursday with COMEX Spot gold prices were trading 0.24 per cent up near $1756 per ounce in the morning trade. Gold prices recovered with dollar decline and weak US economic data. The traders and investors are awaiting for comments from FED chair from Jackson Hole symposium over future course. We expect gold prices to trade sideways to up for the day with COMEX Spot gold support at $1740 and resistance at $1770 per ounce. MCX Gold October support lies at Rs. 51200 and resistance at Rs. 51800 per 10 grams.”
