• Source:JND

Gold and silver rates rebounded in the domestic market after a sharp decline last week. The uptick was fueled by a decline in crude prices amid easing geopolitical tension in the Middle East. Gold futures, August 5 expiry, rose over Rs 1,400 to an early high of Rs 1,48,605 per 1o grams as compared to the last closing of Rs 1,47,203 on Multi-Commodity Exchange (MCX). MCX Silver, July 3 expiry, surged over Rs 5,200 to a high of Rs 2,38,430 per kilogram as compared to last day's closing of Rs 2,33,185 on MCX.

Last seen, MCX Silver was trading at Rs 2,38,150, up Rs 4,965 or 2.13 per cent. MCX Gold was quoted at Rs 1,48,424, up Rs 1,221 or 0.83 per cent.

MCX Gold opened with a gap down near the Rs 1,46,000 mark but quickly reversed toward the Rs 1,48,000–Rs 1,48,400 resistance zone, indicating buying interest at lower levels. A sustained move above this band could extend the recovery toward Rs 1,49,500–Rs 1,50,000 and further toward Rs 1,51,000. On the downside, immediate support is placed at Rs 1,46,000–Rs 1,45,600, with a break below this zone likely to drag prices toward Rs 1,45,000. Overall, the near-term bias remains cautious, with the sharp recovery improving sentiment," said Ponmudi R, CEO of Enrich Money.  

24k, 22k Gold Rates

In the line of the futures market, Gold prices for all purity levels increased in the domestic retail market as well. According to bullion.co.in, the 24 karat gold rate in India is Rs 1,49,050, while the 22 karat gold rate today is Rs 1,36,629 per 10 grams.

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The 20 karat gold rate today is Rs 1,24,208 per 10 grams, while the 18 karat gold rate today is Rs 1,11,788 per 10 grams. Meanwhile, Silver rates in the retail market today are Rs 2,39,470 per kilogram.

Gold and Silver Rate In International Market 

The precious metals prices traded contrary in the international futures market. Last seen, COMEX Gold was quoted at 4,216.10 per ounce, down $29.80 or 0.70 per cent. While COMEX Silver was trading higher at $66.67, up 0.35 or 0.53 per cent.   


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