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Tag: Gold and silver

  • Gold Silver Price Today: Gold and silver costs rise in spot market; futures dip

    Gold and Silver Rate Today in India: Prices of gold and silver costs opened larger in Mumbai’s spot market on Tuesday, October 25.

    The opening worth for 999 purity gold was Rs 50,637 per 10 grams, up Rs 575 from Friday’s closing worth of Rs 50,062, whereas that of 999 purity silver was Rs 57,427 per kg, up Rs 1,872 from Rs 55,555, the info obtainable on India Bullion and Jewellers Association’s (IBJA) web site confirmed.

    Bullion
    Purity
    Opening worth (Rs)
    Previous shut (Rs)
    Gold
    999
    50,637
    50,062

    995
    50,434
    49,862

    916
    46,384
    45,857

    750
    37,978
    37,547

    585
    29,623
    29,286
    Silver
    999
    57,427
    55,555
    Source: India Bullion and Jewellers Association (IBJA)

    However, on the Multi Commodity Exchange of India (MCX), the gold contract for December supply was buying and selling at Rs 50,470.00 per 10 grams, down Rs 110.00 (0.22 per cent) at 2:39 pm whereas the silver contract for December supply was at Rs 57,200.00, down Rs 548.00 (0.95 per cent).

    In the worldwide market, spot gold fell 0.1 per cent to $1,646.79 per ounce by 0735 GMT, whereas US gold futures eased 0.1 per cent to $1,652.50 per ounce, Reuters knowledge confirmed.

  • Gold Silver Price Today: Gold and silver costs inch decrease in spot market; futures up

    Gold and Silver Rate Today in India: Prices of gold and silver costs opened decrease in Mumbai’s spot market on Monday, October 17.

    The opening value for 999 purity gold was Rs 50,315 per 10 grams, down Rs 123 from Friday’s closing value of Rs 50,438, whereas that of 999 purity silver was Rs 55,452 per kg, down Rs 590 from Rs 56,042, the info obtainable on India Bullion and Jewellers Association’s (IBJA) web site confirmed.

    Bullion
    Purity
    Opening value (Rs)
    Previous shut (Rs)
    Gold
    999
    50,315
    50,438

    995
    50,114
    50,236

    916
    46,089
    46,201

    750
    37,736
    37,829

    585
    29,434
    29,506
    Silver
    999
    55,452
    56,042
    Source: India Bullion and Jewellers Association (IBJA)

    On the Multi Commodity Exchange of India (MCX), the gold contract for December supply was buying and selling at Rs 50,525.00 per 10 grams, up Rs 265.00 (0.53 per cent) at 2:54 pm whereas the silver contract for December supply was at Rs 55,967.00, up Rs 741.00 (1.34 per cent).

    In the worldwide market, spot gold rose 0.6 per cent to $1,651.76 per ounce, as of 0703 GMT and US gold futures had been up 0.4 per cent at $1,655.30, knowledge by Reuters confirmed.

    Commenting on gold futures, Navneet Damani, Senior VP – Commodity Research at Motilal Oswal Financial Services mentioned, “Gold prices inched higher but were pinned below key support levels as markets feared more interest rate hikes by the Federal Reserve. A steep fall was witnessed in both gold and silver prices as data showed US inflation will likely take much longer to cool than initially expected. The US CPI data drove up expectations of more inflation-busting rate hikes in the Fed policy meeting in November. There is a ~96 per cent probability of a 75 bps rate hike in Nov meeting, which is a fourth consecutive aggressive hike in this year. The hike will put US interest rates at around 4 per cent, their highest level since late-2007.”

    “The pressure on metals was also witnessed amidst a stronger dollar, which stayed within sight of a 20-year peak; while US Treasury yields also traded at their highest levels since the 2008 financial crisis. There are several updates regarding the geo-political tensions, China has also ordered evacuation of all citizens from Ukraine amidst the escalation in the matter, which is supporting bullions. The economic calendar is fairly muted this week with not many important data points from the US although focus will be on the comments from a Fed officials. Broader trend on COMEX could be in the range of $1,640-1,680 and on domestic front prices could hover in the range of Rs 50,400 – 51,200 could be expected,” he added.

  • Gold Silver Price Today: Gold and silver costs inch greater in home market on weak rupee, regular in world market

    Gold and Silver Rate Today in India: Prices of gold and silver costs opened greater in the important thing spot markets on Friday, October 7, amid weak spot within the rupee, analysts stated.

    The opening value for 999 purity gold was Rs 51,908 per 10 grams, up Rs 70 from Thursday’s closing value of Rs 51,838, whereas that of 999 purity silver was Rs 61,154 per kg, up Rs 484 from Rs 60,670, the information obtainable on India Bullion and Jewellers Association’s (IBJA) web site confirmed.

    Bullion
    Purity
    Opening value (Rs)
    Previous shut (Rs)
    Gold
    999
    51,908
    51,838

    995
    51,700
    51,630

    916
    47,548
    47,484

    750
    38,931
    38,879

    585
    30,366
    30,325
    Silver
    999
    61,154
    60,670
    Source: India Bullion and Jewellers Association (IBJA)

    On the Multi Commodity Exchange of India (MCX), the gold contract for December supply was buying and selling at Rs 52,022.00 per 10 grams, up Rs 50.00 (0.1 per cent) at 1:58 pm whereas the silver contract for December supply was at Rs 61,713.00, up Rs 367.00 (0.6 per cent).

    In the worldwide market, spot gold was little modified at $1,710.09 per ounce, as of 0651 GMT and US gold futures eased 0.2 per cent at $1,716.90, in response to Reuters information.

    Speaking to indianexpress.com, Ajay Kedia, founder and director at Kedia Advisory stated, “Gold prices are finding support in the domestic market due to weakness in the rupee which is trading near a record low, but internationally, gold and silver prices are trading in sideways to negative today as investors are keenly waiting for the US jobs data to understand the US Federal Reserve’s rate hike plans in the near term.”

    Additionally, Kedia famous that some world gold-supplying banks have reduce shipments to India in favour of specializing in China and Turkey the place higher premiums are supplied. He stated that such a transfer forward of main festivals like Diwali when demand is greater within the home market might result in an increase in native costs.

    Navneet Damani, Senior VP – Commodity Research at Motilal Oswal Financial Services stated, “Gold prices held steady ahead of the US jobs report that could help investors gauge the Fed’s rate-hike path, and were headed for their biggest weekly gain since March. The dollar index and benchmark US 10-year Treasury yields were steady after rising overnight.”

    “Investors are now focused on the US nonfarm payrolls (NFP) report due later in the day, with economists forecasting 250,000 jobs to have been added last month, compared with 315,000 in August. Along with NFP, focus will also be on the US unemployment rate, average hourly earnings and other jobs market data will be important to watch for. Broader trend on COMEX could be in the range of $1,700-1,730 and on domestic front prices could hover in the range of Rs 51,480–52,350,” he famous.

  • Gold Silver Rate Today (September 28): Bullion slips in home market on weak world cues

    Gold Rate Today, Silver Rate Today: Prices of gold and silver costs opened decrease in Mumbai’s spot market on Wednesday, September 28, 2022, taking cues from weak world costs.

    The opening value for 999 purity gold was Rs 49,368 per 10 grams, down Rs 161 from Tuesday’s closing value of Rs 49,529, whereas that of 999 purity silver was Rs 54,193 per kg, down Rs 1,198 from Rs 55,391, the information obtainable on India Bullion and Jewellers Association’s (IBJA) web site confirmed.

    Bullion
    Purity
    Opening value (Rs)
    Previous shut (Rs)
    Gold
    999
    49,368
    49,529

    995
    49,170
    49,331

    916
    45,221
    45,369

    750
    37,026
    37,147

    585
    28,880
    28,975
    Silver
    999
    54,193
    55,391
    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 49,080.00 per 10 grams, down Rs 239.00 (0.48 per cent) at 2:22 pm whereas the silver contract for December supply was at Rs 54,580.00, down Rs 799.00 (1.44 per cent).

    In the worldwide market, spot gold was down 0.5 per cent to $1,620.88 per ounce at 0634 GMT, after hitting its lowest since April 2020. US gold futures dropped 0.4 per cent to $1,629.70, knowledge by Reuters confirmed.

  • Gold costs have fallen, must you make investments? What needs to be your technique?

    Gold Rate Today: Gold costs, after touching their peak in the course of the pandemic in 2020, had dropped practically 20 per cent to Rs 46,000 per 10 grams by March 2021. As the second wave of the pandemic engulfed India, gold costs surged but once more and remained unstable with an upside bias as geopolitical tensions gripped the world. Currently, gold costs are buying and selling about 10 per cent under their historic excessive of over Rs 57,000 per 10 grams.

    Movements in gold costs over the past two years are a powerful indicator of gold being the popular funding throughout unsure instances, a sample that has fuelled worth spikes. In latest months, a surge in fairness markets and inflation-tightening measures by the central financial institution have made gold costs fairly unstable. However, they don’t seem to be removed from the height.

    So, amid the present situation when gold costs are buying and selling decrease than the historic highs, must you put money into it? If sure, what ought to your technique be?

    When it involves rising cash in addition to conserving it, gold has been a trusted asset for ages. When it involves risk-adjusted returns, the presence of gold in your portfolio might assist steadiness your returns in robust instances.

    Should you at present put money into gold?

    When costs are decrease than the historic highs, the case for investing in gold beneficial properties floor. Currently, international considerations about stagflation are on the rise as a number of nations proceed to wrestle to renew financial actions on a pre-pandemic stage. Considering this, gold as an funding asset is prone to stay in demand.

    Thus, a brief to mid-term funding in gold might look promising. However, having stated that, gold costs aren’t insulated from volatility and corrections. Therefore, quite than timing your funding in gold, it’s advisable to maintain investing in gold in smaller quantities from the long-term perspective. During phases when gold costs appropriate by 5-10 per cent or extra, the corrections could also be used to take a position extra.

    What ought to your technique be for investing in gold?

    Gold is a protected funding possibility that may assist present stability to your total funding portfolio. However, it should be handled extra like a hedging possibility than an funding alone. Here are a couple of funding methods to contemplate when investing in gold:

    1. Asset allocation

    Asset allocation is essential relating to investing in gold. Ideally, funding in gold needs to be as much as 10 per cent of your whole portfolio whereby chances are you’ll begin with a 5 per cent allocation and step by step improve it to 10 per cent. If you’re extremely risk-averse and conservative, goal to maintain your publicity to a most of 15 per cent. Aggressive traders might think about taking the allocation to fifteen per cent solely throughout corrections in gold costs. Going past is rarely advisable as it might hamper the wealth creation journey and chances are you’ll find yourself lacking out on the higher alternatives you possibly can in any other case get by investing in different wealth-creating devices.

    2. Avoid shopping for bodily gold

    Unless there’s a want for jewelry or ornaments, keep away from shopping for bodily gold – cash or bars for funding functions. Not solely does bodily gold put you prone to theft however it is usually cumbersome to retailer. Liquidity too might pose a problem. For occasion, I purchase bodily gold just for the aim of gifting, by no means as an funding. If you will need to put money into bodily gold, be certain that you retain the unique payments and receipts of your buy as proof of your possession.

    3. Opt for digital gold devices

    With a number of revolutionary gold-related investments now obtainable on-line, traders might think about investing in gold digitally. Gold ETFs, Gold Funds and Sovereign Gold Bonds (SGB) are three such investments that, whereas basically paperwork, are valued in sync with the worth of gold. These investments present the advantages of investing in bodily gold however with out the related dangers.

    Diversification is essential to a profitable monetary portfolio. If you want to add gold to your portfolio, achieve this with digital gold investments whereas proscribing your publicity to 5-10 per cent.

    The writer is the CEO of BankBazaar.com. The views expressed are that of the writer.

  • 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.”

  • Gold Silver Rate Today(August 12): Gold and silver blended in spot, futures commerce flat

    Gold Rate Today, Silver Rate Today: Prices of gold and silver opened on a blended notice in key spot markets of the nation on Friday, August 12, 2022.

    The opening worth for 999 purity gold was Rs 52,481 per 10 grams, up Rs 21 from Thursday’s closing worth of Rs 52,460, whereas that of 999 purity silver was Rs 58,490 per kg, down Rs 210 from Rs 58,700, the information obtainable on India Bullion and Jewellers Association’s (IBJA) web site confirmed.

    Bullion
    Purity
    Opening worth (Rs)
    Previous shut (Rs)
    Gold
    999
    52,481
    52,460

    995
    52,271
    52,250

    916
    48,073
    48,053

    750
    39,361
    39,345

    585
    30,701
    30,689
    Silver
    999
    58,490
    58,700
    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 52,318.00 per 10 grams, down Rs 18.00 (0.03 per cent) at 2:51 pm whereas the silver contract for September supply was at Rs 58,392.00, up Rs 15.00 (0.03 per cent).

    In the worldwide market, spot gold was down 0.1 per cent at $1,787.83 per ounce, as of 0835 GMT. US gold futures fell 0.2 per cent to $1,804.00, in accordance with Reuters knowledge.

    Commenting on the gold commerce, Tapan Patel, Senior Analyst (Commodities) at HDFC Securities stated, “Gold prices traded steady with spot gold prices at COMEX were trading flat near $1,788 per ounce on Friday. Gold October future contract at MCX were trading near Rs. 52364 per 10 grams by noon session. Gold prices are stuck in range over hawkish FED and soft inflation numbers while weaker dollar has capped downside. The US FED hinted aggressive rate hikes despite of ease in inflation. We expect gold prices to trade sideways to up for the day with COMEX spot gold support at $1,770 and resistance at $1,805 per ounce. MCX Gold October support lies at Rs 52,000 and resistance at Rs 52,700 per 10 grams.”

  • Gold ETFs log Rs 457 crore outflow in July

    Gold Exchange Traded Funds (ETFs) witnessed a internet outflow of Rs 457 crore in July as buyers parked their cash in different asset courses as a part of their portfolio rebalancing technique.

    This was compared to a internet influx of Rs 135 crore in June, information with Association of Mutual Funds in India (Amfi) confirmed.

    Kavitha Krishnan, Senior Analyst – Manager Research at Morningstar India, stated that important outflows appear to have risen out of buyers’ expectations of a rising rate of interest cycle resulting in a fall in gold costs, thus impacting the web flows into the gold ETFs.

    Also, a falling rupee is one other issue that has seemingly impacted the demand and provide dynamics of gold. This development has been witnessed globally too, with gold ETF’s posting important outflows on the again of decrease gold costs, she added.

    “This outflow could be directed toward money being diverted from gold to other asset classes as a part of a portfolio rebalancing strategy,” Priti Rathi Gupta, Founder of LXME, stated.

    The outflow has pulled down the asset underneath administration of the class to Rs 20,038 crore final month from Rs 20,249 crore in June.

    However, the class noticed a slight improve within the variety of folios by over 37,500 to 46.43 lakh through the interval underneath evaluation.

    This means that buyers are seemingly persevering with to put money into gold ETF’s as a way to diversify their portfolio and maintain the monetary devices a hedge towards market dangers, Krishnan stated.

    So far within the present fiscal (until July) 2022-23, the section attracted Rs 982 crore.

    Gold ETF, which goals to trace the home bodily gold value, are passive funding devices which might be primarily based on gold costs and put money into gold bullion.

    In quick, gold ETFs are items representing bodily gold which can be in paper or dematerialised kind. One gold ETF unit is the same as 1 gram of gold and is backed by bodily gold of very excessive purity. They mix the pliability of inventory funding and the simplicity of gold investments.

  • 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.

  • Gold Silver Rate Today (August 4): Gold and silver costs climb; right here’s what you pay

    Gold, Silver Today Prices, August 4, 2022: Prices of gold and silver opened greater within the nation’s key spot markets on Thursday, August 4, 2022.

    The opening value for 999 purity gold was Rs 51,815 per 10 grams, up Rs 249 from Wednesday’s closing value of Rs 51,566, whereas that of 999 purity silver was Rs 57,598 per kg, up Rs 289 from Rs 57,309, the information out there on India Bullion and Jewellers Association’s (IBJA) web site confirmed.

    Bullion
    Purity
    Opening value (Rs)
    Previous shut (Rs)
    Gold
    999
    51,815
    51,566

    995
    51,608
    51,360

    916
    47,463
    47,235

    750
    38,861
    38,675

    585
    30,312
    30,166
    Silver
    999
    57,598
    57,309
    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 52,051 per 10 grams, up Rs 662.00 (1.29 per cent) at 3:07 pm whereas the silver contract for September supply was at Rs 58,280.00, up Rs 726.00 (1.26 per cent).

    In the worldwide market, spot gold was up 0.3 per cent to $1,769.74 per ounce, as of 0628 GMT. US gold futures rose 0.5 per cent to $1,785.60, Reuters information confirmed.

    Navneet Damani, Senior VP – Commodity Research at Motilal Oswal Financial Services, in a word defined that gold costs edged greater, amidst uncertainty between China and US over Taiwan and have been additionally buoyed by a pullback of US Treasury yields, whereas buyers awaited the US non-farm payrolls report later this week that might provide extra cues on the Federal Reserve’s price hike plans.

    “Fed policymakers signaled that the central bank remains resolute in getting US rates up to a level that will more significantly curb economic activity and put a dent in the highest inflation since the 1980s. Yes, gold appears to have gained some ground in the past few session, although prospect of further increase in interest rate this year capped gains for metal on higher side. Data showed the US services industry unexpectedly picked up in July as new orders grew solidly, while US factory orders also rose in June, gaining 2 per cent after advancing 1.8 per cent in May. Focus today will be on weekly jobless claims data and tomorrow will be on US non farm and unemployment rate. Broader trend on COMEX could be in the range of $1,750-1,790 and on domestic front prices could hover in the range of Rs 51,500- 52,500 could be expected,” he mentioned.