June 23, 2022 3:28:08 pm
Gold, Silver Rates Today News Updates: Prices of gold and silver started on a weak note in the key spot markets, on Thursday, June 23, 2022.
The opening price for 999 purity gold was Rs 50,994 per 10 grams, down Rs 161 from Wednesday’s closing price of Rs 51,155, while that of 999 purity silver was Rs 60,409 per kg, down Rs 335 from Rs 60,744, the data available on India Bullion and Jewellers Association’s (IBJA) website showed.
|Bullion||Purity||Opening price (Rs)||Previous close (Rs)|
|Source: India Bullion and Jewellers Association (IBJA)|
The gold contract for August delivery on Multi Commodity Exchange of India was trading at Rs 50,898.00 per 10 grams, down Rs 6.00 (0.01%) at 01:23 PM, while the silver contract for July delivery was at Rs 60,368 per kg, down Rs 280 (0.46%).
In the international market, gold prices eased on Thursday, pressured by expectations of aggressive interest rate increases after the U.S. Federal Reserve chief doubled down on the central bank’s fight against inflation, news agency Reuters reported.
Best of Express Premium
Spot gold fell 0.2% to $1,834.33 per ounce by 0733 GMT. U.S. gold futures eased 0.1% to $1,835.60, the report said.
Commenting on the gold prices, Tapan Patel, Senior Commodity Analyst at HDFC Securities said, “The yellow metal has kept range-bound trading below $1840 over aggressive FED rate hike expectations and recession fears. Gold prices got some respite with the dollar decline and weaker equity indices. Prices are expected to trade in the current range with a lack of fresh triggers. We expect gold prices to trade sideways to up for the day with COMEX Spot gold support at $1820 and resistance at $1,850 per ounce. MCX Gold August support lies at Rs 50,600 and resistance at Rs 51,300 per 10 grams.”
📣 Join our Telegram channel (The Indian Express) for the latest news and updates
- The Indian Express website has been rated GREEN for its credibility and trustworthiness by Newsguard, a global service that rates news sources for their journalistic standards.