Gold Rate Today, Silver Rate Today: Prices of gold and silver opened increased in the important thing spot markets of the nation on Wednesday, July 27, 2022.
The 999 purity gold opened at Rs 50,780 per 10 grams, up Rs 20 from Tuesday’s shut of Rs 50,760, whereas the 999 purity silver opened at Rs 54,411 per kg, up Rs 256 from Rs 54,155, information out there on India Bullion and Jewellers Association’s (IBJA) web site confirmed.
Bullion
Purity
Opening worth (Rs)
Previous shut (Rs)
Gold
999
50,780
50,760
995
50,577
50,557
916
46,514
46,496
750
38,085
38,070
585
29,706
29,695
Silver
999
54,411
54,155
Source: India Bullion and Jewellers Association (IBJA)
The gold contract for August supply on the Multi Commodity Exchange of India (MCX) was buying and selling at Rs 50,570.00 per 10 grams, down Rs 14.00 (0.03 per cent) at 01:04 PM, whereas the silver contract for September supply was buying and selling at Rs 54,745.00 per kg, up Rs 30.00 (0.05 per cent) at 01:05 PM.
Geojit Financial Services of their technical report on MCX gold mentioned to anticipate costs to be uneven, inside Rs 49,500-51,200 ranges. Breaking any of the edges would recommend contemporary directional strikes, the report added.
In the worldwide market, spot gold stood at $1,715.43 per ounce, as of 0517 GMT. US gold futures dipped 0.3 per cent to $1,712.80, Reuters information confirmed.
Commenting on the bullion costs, Tapan Patel, Senior Analyst (Commodities) at HDFC Securities mentioned, “Gold prices have kept narrow trading range ahead of US FOMC meet despite of weaker dollar. The market has already discounted 75 bps hike in interest rates. The comments from US FED chair over future stance will be crucial for the market. We expect gold prices to trade sideways to down for the day with COMEX Spot gold support at $1,702 and resistance at $1,730 per ounce. MCX Gold August support lies at Rs 50,200 and resistance at Rs 51,000 per 10 grams.”
