Gold Silver Rate Today(August 12): Gold and silver blended in spot, futures commerce flat

Gold Rate Today, Silver Rate Today: Prices of gold and silver opened on a blended notice in key spot markets of the nation on Friday, August 12, 2022.

The opening worth for 999 purity gold was Rs 52,481 per 10 grams, up Rs 21 from Thursday’s closing worth of Rs 52,460, whereas that of 999 purity silver was Rs 58,490 per kg, down Rs 210 from Rs 58,700, the information obtainable on India Bullion and Jewellers Association’s (IBJA) web site confirmed.

Bullion
Purity
Opening worth (Rs)
Previous shut (Rs)
Gold
999
52,481
52,460

995
52,271
52,250

916
48,073
48,053

750
39,361
39,345

585
30,701
30,689
Silver
999
58,490
58,700
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 52,318.00 per 10 grams, down Rs 18.00 (0.03 per cent) at 2:51 pm whereas the silver contract for September supply was at Rs 58,392.00, up Rs 15.00 (0.03 per cent).

In the worldwide market, spot gold was down 0.1 per cent at $1,787.83 per ounce, as of 0835 GMT. US gold futures fell 0.2 per cent to $1,804.00, in accordance with Reuters knowledge.

Commenting on the gold commerce, Tapan Patel, Senior Analyst (Commodities) at HDFC Securities stated, “Gold prices traded steady with spot gold prices at COMEX were trading flat near $1,788 per ounce on Friday. Gold October future contract at MCX were trading near Rs. 52364 per 10 grams by noon session. Gold prices are stuck in range over hawkish FED and soft inflation numbers while weaker dollar has capped downside. The US FED hinted aggressive rate hikes despite of ease in inflation. We expect gold prices to trade sideways to up for the day with COMEX spot gold support at $1,770 and resistance at $1,805 per ounce. MCX Gold October support lies at Rs 52,000 and resistance at Rs 52,700 per 10 grams.”