Gold, silver costs at the moment: Gold fee slips Rs 77/10 gm, whereas silver declines Rs 333/kg

Gold, Silver Rates Today News Updates: Prices of gold and silver opened decrease within the main spot markets of India on Friday, June 24, 2022.

The 999 purity gold opened at Rs 50,776 per 10 grams, dropping by Rs 77 from Thursday’s closing value of Rs 50,853, whereas that of 999 purity silver was Rs 59,666 per kg, down Rs 333 from Rs 59,999, the info accessible on India Bullion and Jewellers Association’s (IBJA) web site confirmed.

Bullion
Purity
Opening value (Rs)
Previous shut (Rs)
Gold
999
50,776
50,853

995
50,573
50,649

916
46,511
46,581

750
38,082
38,140

585
29,704
29,749
Silver
999
59,666
59,999
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 50,547.00 per 10 grams, down Rs 47 (0.09 per cent) at 12:53 PM, whereas the silver contract for July supply was buying and selling at Rs 59,170.00 per kg, down Rs 334 (0.56 per cent) on the identical time.

In the worldwide market, gold costs had been flat on Friday however on track for his or her second straight weekly decline, with worries over main central banks probably implementing large rate of interest hikes to include runaway inflation weighing on bullion demand, information company Reuters reported.

Spot gold was little modified at $1,822.70 per ounce, as of 0724 GMT, after hitting a one-week low of $1,820.99 earlier within the session. US gold futures fell 0.3 per cent to $1,824.10, the report stated.

Commenting on the bullion costs, Nirpendra Yadav, Senior Commodity Research Analyst at Swastika Investmart stated, “As the US dollar index rose by 0.25 per cent and selling pressure is evident at higher levels due to the aggressive US Fed’s monetary policy, gold prices on the Comex are clinging to their support level. The benchmark Treasury yield, however, continued to decline Tuesday, falling by 3.5 per cent and supporting gold prices at lower levels. If prices move approaching resistance levels, then selling pressure can be seen at higher levels. Gold’s MCX resistance is at Rs 51,100, while its MCX support is at Rs 50,200. Support for silver is at Rs 59,000, while resistance is at Rs 60,500.”