Gold, Silver Rates Today News Updates: Gold and silver costs in key spot markets of India opened decrease on Tuesday, April 19, 2022.
The opening value for 999 purity gold was Rs 53,285 per 10 grams, down Rs 318 from Monday’s closing value of Rs 53,603, whereas that of 999 purity silver was Rs 69,881 per kg, down Rs 228 from Rs 70,109, the information obtainable on India Bullion and Jewellers Association’s (IBJA) web site confirmed.
On the Multi Commodity Exchange of India (MCX), the gold contract for June supply was buying and selling at Rs 53,273.00 per 10 grams, up Rs 1.00 (0 per cent) at 1:21 pm whereas the silver contract for May supply was at Rs 70,048.00, up Rs 72.00 (0.1 per cent).
Bullion
Purity
Opening value (Rs)
Previous shut (Rs)
Gold
999
53,285
53,603
995
53,072
53,388
916
48,809
49,100
750
39,964
40,202
585
31,172
31,358
Silver
999
69,881
70,109
Source: India Bullion and Jewellers Association (IBJA)
In the worldwide market, gold edged decrease on Tuesday because the greenback strengthened, with expectations that costs within the near-term may retest bullion’s resistance on the key $2,000 per-ounce stage, information company Reuters reported earlier within the day.
Spot gold was down 0.2 per cent at $1,975.36 per ounce, as of 0623 GMT whereas US gold futures slipped 0.4 per cent to $1,978.40, the report stated.
“Gold prices steadied, witnessed some profit booking after touching the key ~$2,000 level in the previous session. Ongoing uncertainties between Russia and Ukraine and inflationary pressure is supporting the metal prices; although rising US Yields, Dollar and anticipation of Fed’s aggressive stance in the May meet is keeping a check on metals on higher side. Fed official Bullard mentioned in his speech yesterday that interest rate should be more than 3 per cent to combat against the “very high” inflation. As we strategy the subsequent Fed meet, market contributors will proceed to issue within the tighter financial coverage expectations. Attacks and retaliation between Russia and Ukraine proceed to trigger misery out there. Any additional replace on the peace discuss between the 2 international locations may weigh on the general sentiment,” stated Navneet Damani, Senior VP – Commodities Research at Motilal Oswal Financial Services.
He additional added that market contributors in the present day will control the US housing quantity. For the week, he stated focus will likely be on the IMF conferences and Governor Powell’ speech. Broader tendencies on COMEX could possibly be within the vary of $1,965 – 2,000 and on the home entrance costs may hover within the vary of Rs 52,780 – 53,700.
