Gold, Silver Prices Today: Gold slips Rs 288/10 gm, silver declines Rs 317/kg

Gold, Silver Rates Today News Updates: Prices of gold and silver opened decrease in the important thing spot markets on Monday, June 6, 2022.

The opening worth for 999 purity gold was Rs 51,167 per 10 grams, down Rs 288 from Friday’s closing worth of Rs 51,455, whereas that of 999 purity silver was Rs 62,471 per kg, down Rs 317 from Rs 62,788, 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
51,167
51,455

995
50,962
51,249

916
46,869
47,133

750
38,375
38,591

585
29,933
30,101
Silver
999
62,471
62,788
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 51,060.00 per 10 grams, up Rs 90.00 (0.18 per cent) at 12:01 pm whereas the silver contract for July supply was at Rs 62,421.00, up Rs 752.00 (1.22 per cent).

In the worldwide market, gold costs edged greater on Monday, supported by a slight pullback within the US greenback and Treasury yields, though bullion’s outlook remained weak to aggressive rate of interest hikes by main central banks, information company Reuters reported.

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Spot gold was up 0.2 per cent at $1,854.83 per ounce, as of 0554 GMT, whereas US gold futures rose 0.4 per cent to $1,857.60, the report mentioned.

Commenting on the bullion market, Nirpendra Yadav, Senior Commodity Research Analyst at Swastika Investmart mentioned, “On Comex, gold and silver prices are trading in the range where gold has resistance at $1,875 and support at $1,850, either side move can be seen above or below these levels. On MCX, precious metals may remain range bound to upside as some European market may remain close. Gold has support at Rs 50,500 and resistance at Rs 51,500 while silver has support at Rs 61,000 and resistance at Rs 62,500.”