Gold Silver Rate Today (27 July): Gold rises Rs 20/10 gms, silver surges Rs 256/kg

Gold Silver Today, 27 July, 2022: The 999 purity gold opened at Rs 50,780 per 10 grams, up Rs 20 from Tuesday's closing price of Rs 50,760, while the 999 purity silver opened at Rs 54,411 per kg, up Rs 256 from Rs 54,155. Keep reading to find out bullion prices for today.

Gold Rate Today | Silver Rate Today | Gold Silver Rate Today

Today Gold and Silver Rate in India: Employees process ingots of 99.99% pure gold at the Krastsvetmet non-ferrous metals plant in the Siberian city of Krasnoyarsk, Russia November 22, 2018. (REUTERS/File Photo)

Gold Rate Today, Silver Rate Today: Prices of gold and silver opened higher in the key spot markets of the country on Wednesday, July 27, 2022.

The 999 purity gold opened at Rs 50,780 per 10 grams, up Rs 20 from Tuesday’s close of Rs 50,760, while the 999 purity silver opened at Rs 54,411 per kg, up Rs 256 from Rs 54,155, data available on India Bullion and Jewellers Association’s (IBJA) website showed.

Bullion	Purity	Opening price (Rs)	Previous close (Rs)
Gold	999	50,780	50,760
	995	50,577	50,557
	916	46,514	46,496
	750	38,085	38,070
	585	29,706	29,695
Silver	999	54,411	54,155
Source: India Bullion and Jewellers Association (IBJA)

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The gold contract for August delivery on the Multi Commodity Exchange of India (MCX) was trading at Rs 50,570.00 per 10 grams, down Rs 14.00 (0.03 per cent) at 01:04 PM, while the silver contract for September delivery was trading at Rs 54,745.00 per kg, up Rs 30.00 (0.05 per cent) at 01:05 PM.

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Geojit Financial Services in their technical report on MCX gold said to expect prices to be choppy, inside Rs 49,500-51,200 levels. Breaking any of the sides would suggest fresh directional moves, the report added.

In the global market, spot gold stood at $1,715.43 per ounce, as of 0517 GMT. US gold futures dipped 0.3 per cent to $1,712.80, Reuters data showed.

Read | Gold futures likely to fall upto Rs 46,000 per 10 grams by September end: Analysts

Commenting on the bullion prices, Tapan Patel, Senior Analyst (Commodities) at HDFC Securities said, “Gold prices have kept narrow trading range ahead of US FOMC meet despite of weaker dollar. The market has already discounted 75 bps hike in interest rates. The comments from US FED chair over future stance will be crucial for the market. We expect gold prices to trade sideways to down for the day with COMEX Spot gold support at $1,702 and resistance at $1,730 per ounce. MCX Gold August support lies at Rs 50,200 and resistance at Rs 51,000 per 10 grams.”

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