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International Gold Price Hit 7 Month Lows and Silver Price Slipped to 2 years Lows, Fed Meeting Minutes Today

Gold Rate today, Silver price, COMEX, MCX Gold price: Gold, Silver price update for 6 July 2022,Wednesday. Know Views of India’s Big commodity experts like Manoj Jain, Prithvi Finmart and Anuj Gupta of IIFL Sec on gold and silver. Check 24, 22 carat gold, 18 carat gold rate, 14 carat gold price and silver price. Check update on gold, silver price outlook for COMEX.

Gold and silver crashed vertically on Tuesday after the dollar index hit 20 year highs and crossed 106 marks on global recession fears. The euro hit record 20 year lows against the U.S. dollar amid higher inflation in the euro-zone, energy crisis and recession fears.

Gold prices hit nearly seven month lows and silver prices slipped to two year lows in the international markets. WTI crude also tumbled and slipped below $100 per barrel on global recession fears. All round selling was observed in the international markets as investors aggressively sold their positions and jumped into safe-haven dollars.

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Looming recession fears turned investors cautious and they are selling their positions from riskier assets and currencies and moving to safe-haven dollars. Gold breaches its important support level of $1765 per troy ounce and silver also slipped below $19.55 per troy ounce ahead of the FOMC meeting minutes.

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Manoj Jain Director of Commodity and Currency in Prithvi Finmart expect the dollar index to remain firm in the upcoming sessions and could restrict gains of gold, silver and other global commodities. Gold and silver to remain volatile in today’s session ahead of the FOMC meeting minutes. Gold is having support at $1745-1720 per troy ounce and resistance at $1784-1800 per troy ounce while silver is having support at $18.88-18.60 per troy ounce and resistance at $19.55-19.80 per troy ounce.

Jain said at MCX, gold is having support at 51050-50880 and resistance at 51550-51770 while silver is having support at 56350-55800 and resistance at 57440-57800. We suggest staying away from precious metals in today’s session ahead of the FOMC meeting minutes.

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Anuj Gupta, VP, IIFL Fin Sec, Daily Commodity Calls 6 July 2022
Sell Gold Aug at 51600 SL 51900 TARGET 51000
Sell silver Sept at 57200 SL 57800 TARGET 56300
Sell MCX COPPER july AT 660 sl 668 target 630
Sell crude oil July at 7900 Sl 8000 target 7600
BUY usdinr july at 79.20 sl 79.00 tarhet 79.80

Kedia Commodity Daily morning calls as on Wednesday, July 6, 2022
SELL GOLD AUG 2022 @ 51500 SL 51800 TGT 51200-51000.MCX
SELL SILVER SEP 2022 @ 57400 SL 58000 TGT 56600-56000.MCX
SELL CRUDEOIL JUL 2022 @ 7950 SL 8100 TGT 7700-7600.MCX
BUY NAT GAS JUL 2022 @ 420.00 SL 400.00 TGT 460.00-480.00.MCX
SELL COPPER JUL 2022 @ 660.00 SL 666.00 TGT 662.00-656.00.MCX
SELL ZINC JUL 2022 @ 276.00 SL 280.00 TGT 270.00-268.00.MCX
SELL ALUMINIUM JUL 2022 @ 208.00 SL 212.00 TGT 204.00-202.00.MCX
SELL LEAD JUL 2022 @ 176.00 SL 178.00 TGT 173.00-171.00.MCX

Gold Hallmarked Jewelery Rate per 10 gm in Chandigarh 5 July 2022 (Gold Price Today)
23 carat gold price – Rs 51900
22 carat gold price – Rs 50900
20 carat gold price – Rs 46000
18 carat gold price – Rs 41700
14 carat gold price – Rs 33100
Sone ki Ginni ka Bhav – Rs 41900/ per 8 grams
Silver Price (Silver Price 999.9) – Rs 60600/per kg

गोल्ड प्राइस टूडे का यूट्यूब चैनल सब्सक्राइब करें

Note: The prices being given to you on Gold Price Today are taken from different jewellers and bullion associations of the country. The price of gold, silver in your city may fluctuate as the local jewelers add GST, making charges and hallmarking charges to the gold price. Many jewelers also charge a premium for their shop. Therefore, there is a difference in the price of gold and silver at the shop in bullion.

Disclaimer: This article is written for informational purposes only. This is the opinion of the expert. If you make any investment, first take the advice of your financial advisor. Individuals associated with Gold Price Today do not personally buy, sell or trade gold/silver.

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