Gold Silver Rate Today(2 August): Gold falls Rs 231/10 gm, silver cracks Rs 757/kg

Gold Rate Today, Silver Rate Today: Prices of gold and silver opened decrease in the important thing spot markets of the nation on Tuesday, August 2, 2022.

The opening value for 999 purity gold was Rs 51,437 per 10 grams, down Rs 231 from Monday’s closing value of Rs 51,668, whereas that of 999 purity silver was Rs 57,622 per kg, down Rs 757 from Rs 58,379, the information accessible on India Bullion and Jewellers Association’s (IBJA) web site confirmed.

Bullion
Purity
Opening value (Rs)
Previous shut (Rs)
Gold
999
51,437
51,668

995
51,231
51,461

916
47,116
47,328

750
38,578
38,751

585
30,091
30,226
Silver
999
57,622
58,379
Source: India Bullion and Jewellers Association (IBJA)

On the Multi Commodity Exchange of India (MCX), the gold contract for October supply was buying and selling at Rs 51,444 per 10 grams, down Rs 73.00 (0.14 per cent) at 3:18 pm whereas the silver contract for September supply was at Rs 57,950.00, down Rs 376.00 (0.64 per cent).

In the worldwide market, spot gold was flat round $1,771.29 per ounce by 0843 GMT, after hitting its highest since July 5 at $1,780.39 earlier within the session. US gold futures had been unchanged at $1,787.10, in accordance with Reuters information.

Commenting on gold costs, Tapan Patel, Senior Analyst (Commodities) at HDFC Securities stated, “Gold prices pared early gains witnessed profit booking on firm dollar over possible tension between US and China. Earlier, gold prices rose on safe haven buying as weak economic data from across world boosted recession fears. We expect gold prices to trade sideways to down for the day with COMEX spot gold support at $1,750 and resistance at $1,780 per ounce. MCX Gold October support lies at Rs 51,100 and resistance at Rs 51,700 per 10 gram.”