Gold rises Rs 91/10 gm, silver slips Rs 76/kg

The opening value for 999 purity gold was Rs 51,295 per 10 grams, up Rs 91 from Friday’s closing value of Rs 51,204, whereas that of 999 purity silver was Rs 62,462 per kg, down Rs 76 from Rs 62,538, the info out there on India Bullion and Jewellers Affiliation’s (IBJA) web site confirmed.

On the Multi Commodity Change of India (MCX), the gold contract for June supply was buying and selling at Rs 51,041.00 per 10 grams, up Rs 128.00 (0.25 per cent) at 12:58 pm whereas the silver contract for July supply was at Rs 62,380.00, up Rs 264.00 (0.43 per cent).

Within the world market, gold costs rose on Monday because the US greenback weakened, however current positive factors are unlikely to stave off one other month-to-month fall for greenback-priced bullion, information company Reuters reported.

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Spot gold was up 0.4 per cent at $1,860.77 per ounce, as of 0451 GMT. US gold futures additionally climbed 0.4 per cent to $1,865.00, the report stated.

Commenting on the gold market, Nirpendra Yadav, Senior Commodity Analysis Analyst at Swastika Investmart stated, “On COMEX, gold costs recovered from decrease ranges within the earlier session holding the help stage of $1,845 the place it might check its resistance stage of $1,870 supported by the slight cool off within the greenback index. On MCX, Gold opened on a flat notice the place sideways to upside is predicted, having resistance at Rs 51,300 with the help at Rs 50,700. Silver has resistance at Rs 63,000 and having help at Rs 62,000.”