Gold Silver Rate Today(August 8): Bullion costs blended in spot, futures achieve

Gold Rate Today, Silver Rate Today: Prices of gold opened decrease in the important thing spot markets whereas that of silver inched a tad up on Monday, August 8, 2022.

The opening worth for 999 purity gold was Rs 51,968 per 10 grams, down Rs 51 from Friday’s closing worth of Rs 52,019, whereas that of 999 purity silver was Rs 57,380 per kg, up Rs 18 from Rs 57,362, the information out there on India Bullion and Jewellers Association’s (IBJA) web site confirmed.

Bullion
Purity
Opening worth (Rs)
Previous shut (Rs)
Gold
999
51,968
52,019

995
51,760
51,811

916
47,603
47,649

750
38,976
39,014

585
30,401
30,431
Silver
999
57,380
57,362
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 52,004 per 10 grams, up Rs 130.00 (0.25 per cent) at 1:24 pm whereas the silver contract for September supply was at Rs 57,926.00, down Rs 562.00 (0.98 per cent).

In the worldwide market, spot gold was regular at $1,774.80 per ounce, as of 0704 GMT, after dropping 1 per cent within the earlier session. US gold futures eased 0.1 per cent to $1,790.40, as per Reuters information.

HDFC Securities’ Retail Research in its weekly report stated that it expects gold costs to commerce sideways to up in coming week with COMEX spot gold resistance at $1,810 per ounce and help at $1,740 per ounce. At MCX, the brokerage sees October gold costs to have close to time period resistance at Rs 52,500 per 10 grams and help at Rs 51,200 per 10 gram.

“COMEX Spot silver has near term resistance at $20.90 per ounce with support at $19.20 per ounce. MCX Silver September has important resistance at Rs 60,500 per kg and support at Rs 55,800 per kg,” the report stated.