Gold and silver charges in the present day: Gold fee climbs Rs 192/10 gm, whereas silver rallies Rs 1,157/kg

Gold, Silver Rates Today News Update: Prices of gold and silver charges opened greater in the important thing spot markets of India on Monday, June 27, 2022.

The 999 purity gold opened at Rs 51,021, surging Rs 192 from Friday’s closing value of Rs 50,829, whereas 999 purity silver opened at Rs 60,507, taking a hike of Rs 1,157 from the earlier closing value of Rs 59,350, the info out there on India Bullion and Jewellers Association’s (IBJA) web site confirmed.

Bullion
Purity
Opening value (Rs)
Previous shut (Rs)
Gold
999
51,021
50,829

995
50,817
50,625

916
46,735
46,559

750
38,266
38,122

585
29,847
29,735
Silver
999
60,507
59,350
Source: India Bullion and Jewellers Association (IBJA)

The gold contract for August supply was buying and selling at Rs 50,825.00 per 10 grams, up Rs 202.00 (0.4 %) at 01:32 PM, whereas the silver contract for July supply was buying and selling at Rs 60,530.00 per kg, up Rs 781.00 (1.31 %) on the similar time, on the Multi Commodity Exchange of India (MCX). 

In the worldwide market, gold costs firmed on Monday, as some Western nations’ plans to ban imports of the metallic from Russia for its invasion of Ukraine, signalled probably tighter provides of bullion, information company Reuters reported.

Spot gold was up 0.2% at $1,828.99 per ounce by 0102 GMT. US gold futures have been flat at $1,830.90, the report mentioned.

Commenting on the gold costs, Tapan Patel, Senior Analyst (Commodities) at HDFC Securities mentioned, “Gold prices were supported by a weaker dollar and expectations that G-7 nations may ban the import of new gold from Russia. We expect gold prices to trade sideways to down for the day with COMEX Spot gold support at $1,820 and resistance at $1,850 per ounce. MCX Gold August futures support lies at Rs 50,500 and resistance at Rs 51,200 per 10 grams.”