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Gold Silver Rate Today(August 8): Bullion prices mixed in spot, futures gain

Gold Silver Today, August 8, 2022: Pure gold 999 opened at Rs 51,968 per 10 grams, slipping Rs 51 from Friday’s closing price of Rs 52,019, while that of 999 purity silver was Rs 57,380 per kg, inching up Rs 18 from Rs 57362. Read below to find out bullion prices.

Gold Rate Today | Silver Rate Today | Gold Silver Rate Today | Today Gold Silver RateToday Gold and Silver Rate in India: Customers select gold jewellery in a shop at Agartala. (Express photo by Abhisek Saha)

Gold Rate Today, Silver Rate Today: Prices of gold opened lower in the key spot markets while that of silver inched a tad up on Monday, August 8, 2022.

The opening price for 999 purity gold was Rs 51,968 per 10 grams, down Rs 51 from Friday’s closing price of Rs 52,019, while that of 999 purity silver was Rs 57,380 per kg, up Rs 18 from Rs 57,362, the data available on India Bullion and Jewellers Association’s (IBJA) website showed.

Bullion Purity Opening price (Rs) Previous close (Rs)
Gold 999 51,968 52,019
995 51,760 51,811
916 47,603 47,649
750 38,976 39,014
585 30,401 30,431
Silver 999 57,380 57,362
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 52,004 per 10 grams, up Rs 130.00 (0.25 per cent) at 1:24 pm while the silver contract for September delivery was at Rs 57,926.00, down Rs 562.00 (0.98 per cent).

In the global market, spot gold was steady at $1,774.80 per ounce, as of 0704 GMT, after dropping 1 per cent in the previous session. US gold futures eased 0.1 per cent to $1,790.40, as per Reuters data.

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HDFC Securities’ Retail Research in its weekly report said that it expects gold prices to trade sideways to up in coming week with COMEX spot gold resistance at $1,810 per ounce and support at $1,740 per ounce. At MCX, the brokerage sees October gold prices to have near term resistance at Rs 52,500 per 10 grams and support at Rs 51,200 per 10 gram.

“COMEX Spot silver has near term resistance at $20.90 per ounce with support at $19.20 per ounce. MCX Silver September has important resistance at Rs 60,500 per kg and support at Rs 55,800 per kg,” the report said.

First published on: 08-08-2022 at 01:48:01 pm
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