Gold declines Rs 205; silver down by Rs 926

23/06/2022

Mumbai, jun 22: Gold price in the national capital on Wednesday fell by Rs 205 to Rs 50,487 per 10 gram in line with a decline in international rates of the precious metal, according to HDFC Securities.
In the previous trade, the yellow metal settled at Rs 50,692 per 10 gram.
Silver also tumbled by Rs 926 to Rs 59,959 per kg from Rs 60,885 per kg in the previous trade.
In the international market, gold was quoting lower at USD 1,825 per ounce while silver was trading flat at USD 21.28 per ounce.
"Gold prices traded weak with spot gold prices at COMEX trading 0.41 per cent down at USD 1,825 per ounce on Wednesday.
Gold prices are struggling on a stronger dollar and weaker bond yields," said Tapan Patel, Senior Analyst (Commodities) at HDFC Securities.
Commenting on the bullion market, Nirpendra Yadav, Senior Commodity Research Analyst at Swastika Investmart said, “Gold is trading in the range of $1,860-$1,800 on COMEX, which acts as immediate resistance and support respectively where sell on rise and buy on dips can be followed.
Gold remained marginally up in the previous session while silver gained more than 1%.
However, a firmer US bond yield capped the gain of gold.
On MCX also, it is trading in the range where gold has support at Rs 50,600 and prices are hovering above 100 DEMA. It has resistance at Rs 51,300. Silver has support at Rs 60,800 and resistance at Rs 62,000.”

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