Gold, Silver Prices Today: Gold falls 150/10 grams, silver falls by Rs 694 per kg

Gold of 999 purity, which was initially priced at Rs 50,764 per 10 grams, fell by Rs 150 from Tuesday’s closing price of Rs 50,914. Simultaneously, silver of 999 purity opened at Rs 60,383 per kg, lower by Rs 694 from the previous day’s closing price of Rs 61,077, as available on India Bullion and Jewelers Association (IBJA) website.

On the Multi Commodity Exchange of India, gold for August delivery was trading lower by Rs 130.00 (0.26%) at Rs 50,630.00 per 10 grams at 01:14 pm, while silver for July delivery was trading at Rs 60,371.00 per kg. was. , down Rs 900.00 (1.47%).

In global markets, gold prices fell on Wednesday on a strengthening dollar, but the metal was still trading in a narrow range as investors asked major central banks for their monetary policy plans, especially in the US. federal ReserveNews agency Reuters informed of.

Spot gold fell 0.3% to $1,826.41 an ounce at 0528 GMT, hitting losses for the fourth consecutive session. US gold futures fell 0.6% to $1,827.40, the report said.

Commenting on the bullion market, Nirpendra Yadav, Senior Commodity Research Analyst, Swastik Investmart, said, “Gold on Comex is trading in a range of $1,860 to $1,800, which acts as immediate resistance and support, respectively, where the bullish trend will continue. But there can be selling and buying on the downside. followed. Gold edged up marginally in the previous session, while silver gained over 1%. However, strong US bond yields restricted gold’s gains. On MCX also it is trading in a range where gold has support of Rs 50,600 and the price is hovering above the 100 DEMA. Its resistance is Rs 51,300. Support for silver is at Rs.60,800 and resistance at Rs.62,000.