Gold up Rs 91/10g, silver slips Rs 76/kg
Gold and Silver Prices Today News Updates: Gold & Silver Prices Today News Updates: Gold prices opened higher in major spot markets while silver prices were down on Monday. May 30, 2022.
The opening price for 999 pure gold was 51,295 rupees per 10 grams, up 91 rupees from Friday’s close of 51,204 rupees, while that for 999 pure silver was 62,462 rupees per kg, down 76 rupees from 62,538 rupees Conforms to data available on India Bullion and Jewelers Association (IBJA) website.
|gold bar||purity||Opening Price (Rs)||Previous Close (Rs)|
|Source: India Bullion and Jewelers Association (IBJA)|
On the Multi Commodity Exchange of India (MCX), the gold contract for June delivery was trading at Rs 51,041.00 per 10 grams, up Rs 128.00 (0.25 percent) at 12:58 p.m., while the silver contract for July delivery was Rs 62,380.00, down to Rs 264.00 (0.43 percent).
In the global market, gold prices rose on Monday as the US dollar weakened, but recent gains are unlikely to prevent another monthly drop for greenback bullion, the news outlet said Reuters reported.
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Spot gold rose 0.4 percent to $1,860.77 an ounce (04:51 GMT). U.S. gold futures were also up 0.4 percent to $1,865.00, the report said.
Commenting on the gold market, Nirpendra Yadav, Senior Commodity Research Analyst at Swastika Investmart said: “On the COMEX, gold prices recovered from lower levels in the previous session and held the $1,845 support level where it could test its $1,870 resistance level. supported by a slight cooldown in the dollar index. On MCX, Gold opened on a flat note where sideways movement is expected to the upside with resistance at Rs 51,300 and support at Rs 50,700. Silver has resistance at Rs. 63,000 and support at Rs. 62,000.”