Gold Silver Rate Today: Gold falls Rs 371/10 gms, silver drops Rs 630/kg

Gold Silver Today, 21 July, 2022: The 999 purity gold opened at Rs 50,182 per 10 grams, falling Rs 371 from Wednesday's closing price of Rs 50,553. Simultaneously, the 999 purity silver opened at Rs 54,737 per kg, dropping Rs 630 from Rs 55,367. Read below to find out bullion prices for today.

Gold Silver Price Today: gold bangles. (Photo: Getty/Thinkstock)

Gold Silver: Prices of gold and silver opened lower in the major spot markets of the country on Thursday, June 21, 2022.

The 999 purity gold opened at Rs 50,182 per 10 grams, falling Rs 371 from its previous close of Rs 50,553, while the 999 purity silver opened at Rs 54,737 per kg, dropping Rs 630 from Rs 55,367, data available on India Bullion and Jewellers Association’s (IBJA) website showed.

Bullion	Purity	Opening price (Rs)	Previous close (Rs)
Gold	999	50,182	50,553
	995	49,981	50,351
	916	45,967	46,307
	750	37,637	37,915
	585	29,356	29,574
Silver	999	54,737	55,367
Source: India Bullion and Jewellers Association (IBJA)

Read | Higher customs duty to hit gold jewellery demand this fiscal: Report

The gold contract for August delivery was trading at Rs 49,864.00 per 10 grams, down Rs 361.00 (0.72 per cent) at 01:24 PM, while the silver contract for September delivery was trading at Rs 54,643.00 per kg, down Rs 976 (1.75 per cent).

Story continues below this ad

Geojit Financial Services in their technical report on the MCX August gold contract said to expect mild negative bias initially and that a breaking of Rs 49,800 is required continue gains in the counter. Consistent trades below Rs 50,200 is a sign of major liquidation, the report added.

In the global market, spot gold was down 0.2 per cent at $1,692.80 per ounce, as of 0516 GMT, after falling to its lowest since early August 2021 at $1,689.40 earlier in the session. US gold futures fell 0.6 per cent to $1,689.50 per ounce, as per Reuters data.

Commenting on the bullion prices, Tapan Patel, Senior Analyst (Commodities) at HDFC securities said, “Gold prices traded lower on Thursday with spot gold prices at COMEX were trading 0.23 per cent down near $1,693 per ounce in the morning trade. Gold prices witnessed selling in previous session on strong dollar and rally in equity indices. The growing speculation over US FED rate hike may keep gold prices under check for short term. We expect gold prices to trade sideways to down for the day with COMEX Spot gold support at $1,685 per ounce and resistance at $1,710 per ounce. MCX Gold August support lies at Rs 49,800 and resistance at Rs 50,500 per 10 grams.”