Gold Silver Rate Today(29 July): Gold climbs Rs 401/10 gm, silver surges Rs 1,940/kg

Gold Rate Today, Silver Rate Today: Prices of gold and silver opened greater in the important thing spot markets of the nation on Friday, July 29, 2022.

The 999 purity gold opened at Rs 51,623 per 10 grams, climbing Rs 401 from Thursday’s shut of Rs 51,222, whereas the opening value for 999 purity silver was Rs 57,912 per kg, surging by Rs 1,940 from Rs 55,972, the info obtainable on India Bullion and Jewellers Association’s (IBJA) web site confirmed.

Bullion
Purity
Opening value (Rs)
Previous shut (Rs)
Gold
999
51,623
51,222

995
51,416
51,017

916
47,287
46,919

750
38,717
38,417

585
30,199
29,965
Silver
999
57,912
55,972
Source: India Bullion and Jewellers Association (IBJA)

The gold contract for August supply was buying and selling at Rs 51,332.00 per 10 grams, up Rs 28.00 (0.05 per cent) on the Multi Commodity Exchange of India (MCX) at 01:08 pm, whereas the silver contract for September supply was buying and selling at Rs 57,872.00 per kg, up Rs 253.00 (0.44 per cent) at 01:10 pm.

In the worldwide market, spot gold inched up 0.2 per cent to $1,758.94 per ounce, as of 0337 GMT. US gold futures rose 0.3 per cent to $1,775.10, Reuters information confirmed.

Commenting on the bullion costs, Tapan Patel, Senior Analyst (Commodities) at HDFC Securities stated, “Gold prices rallied on safe-haven buying after US economy technically slipped into recession with GDP contracting for the second month. The dollar index fell to six-week lows against yen while treasury yields fell boosting buying in the yellow metal. The lesser hawkish tone from US Fed was the trigger for gold bulls to lift their horns.”

His brokerage pegs assist for COMEX Spot gold at $1,740 per ounce and resistance at $1,770. For MCX August gold, he famous the assist at Rs 50,900 per 10 grams and resistance at Rs 51,600.