Gold silver prices decline; here’s what you pay

gold and silver today Gold and silver prices opened lower in the country’s major spot markets on Wednesday, July 20, 2022.

The opening price of 999 purity gold was Rs 50,477 per 10 grams, down 201 rupees from the previous close of 50,678 rupees, while the opening price of 999 purity silver was Rs 55,230 per kilogram, down 333 rupees from 55,563 rupees, data available for India Show the Bullion and Jewelery Association (IBJA) website.

alloy purity Opening Price (Rs.) Previous Close (Rs.)
He went 999 50477 50678
995 50275 50475
916 46237 46421
750 37858 38.009
585 29529 29647
silver 999 55230 55563
Source: Indian Gold Bullion and Jewelery Association (IBJA)

On the Multi Commodity Exchange of India (MCX), a gold contract for August delivery was traded at Rs 50285.00 per 10g, down Rs 35.00 (0.07 per cent) at 12:32 pm, while the silver contract for September delivery was trading at Rs 55779.00 per kilogram, the highest rupee 52.00 (0.09 percent).

Geojit Financial Services said in its technical report on the August MCX gold contract that it expects a moderate negative bias initially and a break of Rs 51,200 is required to continue gains over the counter. Consistent trades below Rs 50,200 are a sign of major liquidation, the report added.

In the international market, spot gold was down 0.3 percent to $1,706.85 an ounce by 0610 GMT. US gold futures fell 0.3 percent to $1,706.00. Reuters data showed.

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