Gold Rate, Silver Rate Today: Gold and silver costs opened larger in Mumbai’s spot market on Thursday, August 25, 2022.
The opening value for 999 purity gold was Rs 51,958 per 10 grams, up Rs 328 from Wednesday’s closing value of Rs 51,630, whereas that of 999 purity silver was Rs 55,785 per kg, up Rs 561 from Rs 55,224, the info obtainable on India Bullion and Jewellers Association’s (IBJA) web site confirmed.
Bullion
Purity
Opening value (Rs)
Previous shut (Rs)
Gold
999
51,958
51,630
995
51,750
51,423
916
47,594
47,293
750
38,969
38,723
585
30,395
30,204
Silver
999
55,785
55,224
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 51,770.00 per 10 grams, up Rs 331.00 (0.64 per cent) at 1:00 pm whereas the silver contract for September supply was at Rs 55,690.00, up Rs 753.00 (1.37 per cent).
In the worldwide market, spot gold was up 0.3 per cent at $1,756.64 per ounce, as of 0548 GMT, whereas US gold futures gained 0.4 per cent to $1,769.00, in keeping with Reuters information.
Commenting on the bullion market, Tapan Patel, Senior Analyst (Commodities) at HDFC Securities stated, “Gold prices traded firm on Thursday with COMEX Spot gold prices were trading 0.24 per cent up near $1756 per ounce in the morning trade. Gold prices recovered with dollar decline and weak US economic data. The traders and investors are awaiting for comments from FED chair from Jackson Hole symposium over future course. We expect gold prices to trade sideways to up for the day with COMEX Spot gold support at $1740 and resistance at $1770 per ounce. MCX Gold October support lies at Rs. 51200 and resistance at Rs. 51800 per 10 grams.”
