Gold Silver Price Today: Gold surges Rs 226/10 gms, silver rises Rs 807/kg

Gold Silver Rate: Prices of gold and silver opened larger in the important thing spot markets of the nation on Monday, July 18, 2022.

The opening worth of 999 purity gold was Rs 50,629 per 10 grams, surging Rs 226 from Friday’s closing worth of Rs 50,403, whereas the opening worth for 999 purity silver was Rs 55,574 per kg, registering a steep rise of Rs 807 from Rs 54,767, information accessible on India Bullion and Jewellers Association’s (IBJA) web site confirmed.

Bullion
Purity
Opening worth (Rs)
Previous shut (Rs)
Gold
999
50,629
50,403

995
50,426
50,201

916
46,376
46,169

750
37,972
37,802

585
29,618
29,486
Silver
999
55,574
54,767
Source: India Bullion and Jewellers Association (IBJA)

On the Multi Commodity Exchange of India (MCX), the gold contract for August supply was buying and selling at Rs 50,330.00 per 10 grams, up Rs 223.00 (0.45 per cent) at 12:20 PM, whereas the silver contract for September supply was buying and selling at Rs 56,020.00 per kg, up Rs 433.00 (0.78 per cent).

IIFL Securities of their technical report on gold mentioned the dear steel is prone to commerce sideways down, because the MACD index generated a crossover promote sign. “The MACD histogram is printing in negative territory with a downward sloping trajectory,” the brokerage mentioned. Sell on rise is prone to stay in favor within the close to time period, it added.

In the worldwide market, spot gold rose 0.7 per cent to $1,719.49 per ounce by 0724 GMT, after falling to its lowest in almost a yr final week. US gold futures gained 0.6 per cent to $1,714.30, Reuters information confirmed.

Commenting on the bullion costs, Tapan Patel,  Senior Analyst (Commodities) at HDFC Securities mentioned, “Gold prices traded higher on Monday with spot gold prices at COMEX were trading 0.40 per cent up near,$1,714 per ounce in the morning trade. The yellow metal witnessed recovery supported by weaker dollar which was trading down by 0.26 per cent at 107.63. The eased expectations of lesser that 1 per cent hike in interest rates from US FED supported precious metals to trade up. We expect gold prices to trade sideways to up for the day with COMEX Spot gold support at $1,700 and resistance at $1,730 per ounce. MCX Gold August support lies at Rs 49,900 and resistance at Rs 50,700 per 10 grams.”