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Monday, August 08, 2022

Gold Silver Rate Today (August 4): Gold and silver prices climb; here’s what you pay

Gold Silver Prices Today, August 4, 2022: Pure gold 999 opened at Rs 51,815 per 10 grams, rising Rs 249 from Wednesday’s closing price of Rs 51,566, while that of 999 purity silver was Rs 57,598 per kg, climbing Rs 289 from Rs 57,309. Read below to find out bullion prices.

By: Express Web Desk | New Delhi |
August 4, 2022 3:23:52 pm
Gold Rate Today | Silver Rate Today | Gold Silver Rate Today | Today Gold Silver RateGold and Silver Rate in India, August 04, 2022: Customers select jewelry in a shop at Agartala. (Express photo by Abhisek Saha)

Gold, Silver Today Prices, August 4, 2022: Prices of gold and silver opened higher in the country’s key spot markets on Thursday, August 4, 2022.

The opening price for 999 purity gold was Rs 51,815 per 10 grams, up Rs 249 from Wednesday’s closing price of Rs 51,566, while that of 999 purity silver was Rs 57,598 per kg, up Rs 289 from Rs 57,309, the data available on India Bullion and Jewellers Association’s (IBJA) website showed.

Bullion Purity Opening price (Rs) Previous close (Rs)
Gold 999 51,815 51,566
995 51,608 51,360
916 47,463 47,235
750 38,861 38,675
585 30,312 30,166
Silver 999 57,598 57,309
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 52,051 per 10 grams, up Rs 662.00 (1.29 per cent) at 3:07 pm while the silver contract for September delivery was at Rs 58,280.00, up Rs 726.00 (1.26 per cent).

In the international market, spot gold was up 0.3 per cent to $1,769.74 per ounce, as of 0628 GMT. US gold futures rose 0.5 per cent to $1,785.60, Reuters data showed.

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Navneet Damani, Senior VP – Commodity Research at Motilal Oswal Financial Services, in a note explained that gold prices edged higher, amidst uncertainty between China and US over Taiwan and were also buoyed by a pullback of US Treasury yields, while investors awaited the US non-farm payrolls report later this week that could offer more cues on the Federal Reserve’s rate hike plans.

Fed policymakers signaled that the central bank remains resolute in getting US rates up to a level that will more significantly curb economic activity and put a dent in the highest inflation since the 1980s. Yes, gold appears to have gained some ground in the past few session, although prospect of further increase in interest rate this year capped gains for metal on higher side. Data showed the US services industry unexpectedly picked up in July as new orders grew solidly, while US factory orders also rose in June, gaining 2 per cent after advancing 1.8 per cent in May. Focus today will be on weekly jobless claims data and tomorrow will be on US non farm and unemployment rate. Broader trend on COMEX could be in the range of $1,750-1,790 and on domestic front prices could hover in the range of Rs 51,500- 52,500 could be expected,” he said.

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First published on: 04-08-2022 at 03:23:52 pm

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