Gold, silver costs at this time: Gold price slips Rs 55/10 gram, silver drops Rs 344/kg

Gold, Silver Rates Today News Update: Gold and silver charges opened decrease within the main spot markets of the nation on Tuesday, June 28, 2022.

The opening worth for 999 purity gold was Rs 51,039 per 10 grams, dropping Rs 55 from Monday’s closing worth of Rs 51,094, whereas 999 purity silver opened at Rs 60,488 per kg, taking a drop of Rs 344 from Rs 60,832, the info out there on India Bullion and Jewellers Association’s (IBJA) web site confirmed.

Bullion
Purity
Opening worth (Rs)
Previous shut (Rs)
Gold
999
51,039
51,094

995
50,835
50,889

916
46,752
46,802

750
38,279
38,321

585
29,858
29,890
Silver
999
60,488
60,832
Source: India Bullion and Jewellers Association (IBJA)

On the Multi Commodity Exchange of India (MCX), the gold contract for the August supply was buying and selling at Rs 50,910.00 per 10 grams, up Rs 261.00 (0.52 %) at 01:53 PM, whereas the silver July supply contract for 60,428.00 per kg, up Rs 482.00 (0.8 %) at 01:54 PM.

In the worldwide market, gold costs edged up on Tuesday as US Treasury yields weakened, however the absence of any market-moving catalysts stored traders on the sidelines, information company Reuters reported.

Spot gold was up 0.2% to $1,825.99 per ounce by 0536 GMT. US gold futures firmed 0.1% to $1,827.30, the report stated.

Commenting on the bullion costs, Tapan Patel, Senior Analyst (Commodities) at HDFC Securities stated, “Gold prices traded firm with spot gold prices at COMEX were trading 0.28% up near $1827 per ounce on Tuesday. Gold Aug future contract at MCX was trading 0.47% up near Rs 50,889 per 10 grams by noon session. Gold prices have held range-bound trading on mixed global cues on slowdown worries and larger rate hike expectations from US FED. The weak equity indices and a possible ban on Russian gold have capped downside in gold prices while dollar remained steady. We expect gold prices to trade sideways to up for the day with COMEX spot gold support at $1,810 and resistance at $1,840 per ounce. MCX Gold Aug support lies at Rs 50,500 and resistance at Rs 51,200 per 10 gram.”