Gold Silver Rate Today(August 19): Gold and silver costs fall; right here’s what you pay

Gold Rate Today, Silver Rate Today: Prices of gold and silver opened decrease in key spot markets of the nation on Friday, August 19, 2022.

The opening value for 999 purity gold was Rs 51,868 per 10 grams, down Rs 213 from Thursday’s closing value of Rs 52,081, whereas that of 999 purity silver was Rs 56,064 per kg, down Rs 1,036 from Rs 57,100, the info out there on India Bullion and Jewellers Association’s (IBJA) web site confirmed.

Bullion
Purity
Opening value (Rs)
Previous shut (Rs)
Gold
999
51,868
52,081

995
51,660
51,872

916
47,511
47,706

750
38,901
39,061

585
30,343
30,467
Silver
999
56,064
57,100
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 51,490.00 per 10 grams, down Rs 113.00 (0.22 per cent) at 1:48 pm whereas the silver contract for September supply was at Rs 55,690.00, down Rs 753.00 (1.33 per cent).

In the worldwide market, Spot gold was down 0.2 per cent at $1,753.97 per ounce, as of 0706 GMT, after falling to its lowest since July 28 at $1,751.01 earlier within the session. US gold futures eased 0.1 per cent to $1,768.90, in accordance with Reuters information.

Commenting on the bullion market, Tapan Patel, Senior Analyst (Commodities) at HDFC Securities mentioned, “Gold prices traded under pressure over stronger dollar which rose above 107 against major currencies. The lack of fresh triggers have also capped upside in gold prices. Gold prices are set to end the week lower as hawkish signals from the US Federal Reserve on the path of US interest rates drove up the dollar. We expect gold prices to trade sideways to down for the day with COMEX spot gold support at $1,740 and resistance at $1,765 per ounce. MCX Gold October support lies at Rs 51,200 and resistance at Rs 51,800 per 10 gram.”