Gold, Silver Rates Today News Updates: Prices of gold and silver opened higher in the key spot markets on Thursday, June 9, 2022.
The opening price for 999 purity gold was Rs 51,136 per 10 grams, up Rs 98 from Wednesday’s closing price of Rs 51,038, while that of 999 purity silver was Rs 62,048 per kg, up Rs 363 from Rs 61,685, the data available on India Bullion and Jewellers Association’s (IBJA) website showed.
| Bullion | Purity | Opening price (Rs) | Previous close (Rs) |
| Gold | 999 | 51,136 | 51,038 |
| 995 | 50,931 | 50,834 | |
| 916 | 46,841 | 46,751 | |
| 750 | 38,352 | 38,279 | |
| 585 | 29,915 | 29,857 | |
| Silver | 999 | 62,048 | 61,685 |
| Source: India Bullion and Jewellers Association (IBJA) |
On the Multi Commodity Exchange of India (MCX), the gold contract for August delivery was trading at Rs 50,995.00 per 10 grams, down Rs 56.00 (0.11 per cent) at 1:25 pm while the silver contract for July delivery was at Rs 61,847.00, down Rs 179.00 (0.29 per cent).
In the global market, gold prices were slightly down on Thursday, restrained by a rise in Treasury yields ahead of key US jobs and inflation data this week that could influence the Federal Reserve’s rate-hike roadmap for fighting inflation, news agency Reuters reported.
Spot gold was down 0.1 per cent at $1,851.70 per ounce, as of 0622 GMT, while US gold futures eased 0.1 per cent to $1,853.90, the report said.
Commenting on the bullion market, Nirpendra Yadav, Senior Commodity Research Analyst at Swastika Investmart said, “In the last trading session, gold and silver prices gained due to weak global economic data. US Wholesale inventories data rose to 2.2 per cent versus 2.1 per cent registered the previous month. Precious metals are attracting investors as the rising cost of energy ramps up the expectation of higher inflation. However, the European Central Bank’s monetary policy, which is scheduled today in the evening, may cap the gain of bullion. The trend in bullion may remain range-bound while prices look supportive at the lower range. Gold has support at Rs 50,800 and resistance at Rs 51,500. Silver has support at Rs 61,400 and resistance at Rs 63,000.”
