Today's Gold and Silver Prices: Gold is up Rs 79/10 gramme, while silver is down Rs 990/kg.

Today's Gold and Silver Rates News: On Thursday, May 12, 2022, gold prices in the country's primary spot markets opened slightly higher, but silver prices fell dramatically.

According to data on the India Bullion and Jewellers Association's (IBJA) website, the opening price for 999 purity gold was Rs 51,284 per 10 grams, up to Rs 451 from Wednesday's closing price of Rs 51,205, while the opening price for 999 purity silver was Rs 60,460 per kg, down Rs 990 from Rs 61,450.

The gold contract for June delivery was trading at Rs 50,770.00 per 10 kilos on the Multi Commodity Exchange of India (MCX) at 2:46 pm, down Rs 52.00 (0.10 percent), while the silver contract for July delivery was at Rs 60,150.00, down Rs 602.00. (0.99 per cent).

In tumultuous trade on Thursday, gold prices wobbled as the dollar touched a 20-year high, balancing support from lower Treasury yields, as monthly US inflation data signaled the Federal Reserve would likely adhere to its aggressive rate-hike path to news agency Reuters.

By 0809 GMT, spot gold had fallen 0.1 percent to $1,850.81 per ounce. According to the article, US gold futures were down 0.2 percent at $1,850.80.

"Gold prices witnessed knee-jerk reaction post-US inflation data which marginally jumped in the month of April," said Tapan Patel, Senior Analyst (Commodities) at HDFC Securities, of the market's shift. The dollar and US bond yields reacted positively to the record inflation figures, limiting gold's fall. Gold prices have been held steady near $1,850 per ounce as equities indexes and cryptocurrencies have fallen. With COMEX spot gold support at $1,830 and resistance at $1,870 per ounce, we predict gold prices to trade flat to down for the day. The MCX Gold June support and resistance levels are Rs 50,500 and Rs 51,200 per 10 grams."