Gold Price Update on July 22: Yellow metal price hits record high of Rs 50,220 per 10 gram

Gold prices on Wednesday hit a record high of Rs 50,220 per 10 gram in morning trade as investment demand for precious metal rose.

According to the India Bullion and Jewellers Association (IBJA), a Mumbai-based industry body, the rate without GST for gold (purity-999) is Rs 50,220, while for gold with purity-995 is Rs 50,019. Meanwhile, silver prices also rose 60,043 per kilogram on Wednesday.

Gold prices according to purity levels are as follows:

999 - Rs 50,220/-

995 - Rs 50,019/-

916 - Rs 46,002/-

750 - Rs 37,665/-

585 - Rs 29,379/-

Meanwhile, the MCX gold futures traded 0.99 per cent higher at Rs 50,017, while the silver contract quoted at Rs 60,619, up 5.71 per cent from its previous close, reported NDTV.

The Equity benchmark Sensex dropped over 100 points in early trade on Wednesday dragged by losses in index majors HUL, HDFC twins and Infosys amid mixed cues from global markets.

The 30-share BSE Sensex was trading 108.36 points, or 0.29 per cent, lower at 37,821.97. Similarly, the NSE Nifty slipped 29.50 points, or 0.26 per cent, to 11,132.75. Bajaj Finance was the top loser in the Sensex pack, shedding around 2 per cent, followed by HUL, Maruti, IndusInd Bank, SBI, Tech Mahindra, L&T, Infosys and HDFC duo.

(Inputs from Agencies)

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