Gold Price, Comex Gold Price, Silver price: Escalating tensions between Russia and Ukraine, coupled with weakness in global equity markets, have fueled safe-haven demand for gold and silver. However, gains were capped on Tuesday by a strong dollar index, which remains near two-year highs, and U.S. 10-year bond yields holding above 4.50%.
Gold and silver prices edged higher on Tuesday in both international and domestic markets. In the global market, Gold February futures settled at $2,633.50 per troy ounce, up by 0.20%, while Silver March futures closed at $30.23 per troy ounce, up by 0.14%. In India, Gold February futures ended at ₹76,270 per 10 grams (+0.17%) and Silver March futures at ₹89,326 per kilogram (+0.23%).
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According to Manoj Kumar Jain, Director at Prithvi Finmart, ongoing geopolitical uncertainties and dollar strength will keep precious metal prices volatile. In the domestic market, a depreciating rupee is further supporting gold and silver prices.
Key Market Factors:
Gold and silver prices are hovering near critical levels: $2,588 for gold and $29.88 for silver. Manoj Kumar Jain, Director at Prithvi Finmart, notes that a weekly close above these levels could drive a robust recovery.
The weakening Indian rupee continues to support domestic gold and silver prices, with the rupee expected to remain under pressure in the near term.
Technical Levels for Global Markets by Manoj Kumar Jain:
Gold: Support at $2,618-$2,604; Resistance at $2,648-$2,664.
Silver: Support at $29.88-$29.55; Resistance at $30.55-$30.84.
Key MCX Levels by Manoj Kumar Jain :
Gold: Support at ₹76,040-₹75,770; Resistance at ₹76,500-₹76,800.
Silver: Support at ₹88,650-₹88,000; Resistance at ₹90,200-₹90,850.
Jain suggests:
Gold: Buy around ₹76,100 with a stop loss at ₹75,800 and a target of ₹76,700.
Silver: Buy around ₹88,800 with a stop loss at ₹88,150 and a target of ₹90,200.
With geopolitical tensions, a volatile dollar index, and sustained global uncertainties, gold and silver prices are expected to remain dynamic this week, offering trading opportunities for investors.
LUCKNOW SARAFFA ASSOCIATION Gold Price
24 CT ~ 79100
22 CT ~ 76900
18 CT ~ 70400
SILVER ~ jewellery: 910
Exchange rate’s for jewellery
22 ct – 75000
18 ct – 68400
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Disclaimer:
The information provided in this article is for informational purposes only and reflects the views of industry experts. Before making any investment decisions, it is recommended that you consult a financial advisor. The team at Gold Price Today does not engage in personal buying, selling, or trading of gold or silver on exchanges. We are not responsible for any gains or losses incurred based on the information presented here.
