Gold, Silver Prices Today: Gold drops Rs 45/10 gm, silver descends by Rs 603/kg

Gold, Silver Rates Today News Updates: Prices of gold and silver opened decrease in the important thing spot markets on Friday, June 10, 2022.

The opening value for 999 purity gold was Rs 50,984 per 10 grams, taking a Rs 45 drop from Thursday’s closing value of Rs 51,029, whereas that of 999 purity silver was 61,203 per kg, falling Rs 603 from Rs 61,806, 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
50,984
51,029

995
50,780
50,825

916
46,701
46,743

750
38,238
38,272

585
29,826
29,852
Silver
999
61,203
61,806
Source: India Bullion and Jewellers Association (IBJA)

The gold contract for August supply on the Multi Commodity Exchange of India was buying and selling at Rs 50,820.00 per 10 grams, down Rs 185.00 (0.36%) at 3:56 PM, whereas the silver contract for July supply was at Rs 60,810.00 per kg, down Rs 601.00 (0.98%) at 3:59 PM.

In the worldwide market, gold fell barely on Friday and was on monitor for a tiny weekly loss as Treasury yields elevated, with buyers retaining an eye fixed out for key month-to-month US inflation information to get cues about the way forward for the Federal Reserve’s financial coverage, information company Reuters reported.

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Spot gold eased 0.1% to $1,846.30 per ounce, as of 07:43 GMT, whereas US gold futures fell 0.2% to $1,849.50, the report mentioned.

Commenting on the gold costs, Tapan Patel, Senior Commodity Analyst at HDFC Securities mentioned, “Gold prices witnessed selling on Thursday with dollar rally and surge in US bond yields. The US inflation data speculation has lowered investors’ appetite for gold while traders are cautious ahead of US FOMC meet in the coming week. We expect gold prices to trade sideways to down for the day with COMEX spot gold support at $1,830 and resistance at $1,860 per ounce. MCX Gold Aug support lies at Rs 50,700 and resistance at Rs 51,200 per 10 grams.”