Gold Silver Price Today: Bullion rises in domestic market on firm global cues

Gold Silver Today, Gold Silver Rate Today, 2 September 2022: Pure gold 999 opened at Rs 50,470 per 10 grams, rising Rs 61 from Thursday’s closing price of Rs 50,409, while that of 999 purity silver was Rs 52,382 per kg, climbing Rs 360 from Rs 52,022. Read below to find out bullion prices.

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Gold Silver Price: Customers select gold jewelry in a jewellery shop in Agartala. (Express photo by Abhisek Saha)

Gold Silver: Prices of gold and silver prices opened higher in Mumbai’s spot market on Friday, September 2, 2022 taking cues from firm global prices, analysts said.

The opening price for 999 purity gold was Rs 50,470 per 10 grams, up Rs 61 from Thursday’s closing price of Rs 50,409, while that of 999 purity silver was Rs 52,382 per kg, up Rs 360 from Rs 52,022, the data available on India Bullion and Jewellers Association’s (IBJA) website showed.

Bullion	Purity	Opening price (Rs)	Previous close (Rs)
Gold	999	50,470	50,409
	995	50,268	50,207
	916	46,230	46,175
	750	37,852	37,807
	585	29,525	29,489
Silver	999	52,382	52,022
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 50,252.00 per 10 grams, up Rs 182.00 (0.36 per cent) at 2:47 pm while the silver contract for December delivery was at Rs 54,873.00, up Rs 271.00 (0.38 per cent).

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In the international market, spot gold rose 0.5 per cent to $1,704.90 per ounce by 0926 GMT. US gold futures were up 0.4 per cent at $1,716.30, data by Reuters showed.

Commenting on the gold market, Tapan Patel, Senior Analyst (Commodities) at HDFC Securities said, “Gold prices held firm on softer dollar while gold prices fell below $1,700 per ounce with dollar index extending the bull-run towards new high. The market players are awaiting key US non-farm payroll data in the evening session. We expect gold prices to trade sideways to up for the day with COMEX spot gold support at $1,680 and resistance at $1,720 per ounce. MCX Gold October support lies at Rs 49,900 and resistance at Rs 50,600 per 10 grams.”

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