Gold Rate today | Silver price | Gold | Silver | MCX Gold price | Comex Group: Gold Price, Silver price update for 11 April Tuesday. Know Views of India’s Big commodity experts like Manoj Jain, Prithvi Finmart, Market and Commodity Expert Sugandha Sachdeva, Ajay Kedia, Kedia Commodity 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 Group and MCX.
According to Manoj Kumar Jain Director of Commodity and Currency in Prithvi Finmart gold and silver showed profit taking amid rebound in the dollar index and Fed rate hike fears after upbeat U.S. job reports. The U.S. non-farm payroll rose 2,36,000 in the month of March against a gain of 3,11,000 jobs in February month. The dollar index recovered from two month lows and crossed 102 marks once again and pushed precious metals lower.
Gold and silver also plunged amid speculations on further interest rates hikes from the U.S. Fed after upbeat job reports. The U.S. inflation data is due later this week and could give further clues on the Fed rate hikes. Market is expecting that the U.S. inflation is expected to rise to an annual rate of 5.1% in March as compared to 6.05 in February. Possibility of cooling off in the U.S. inflation could support gold and silver prices.
Manoj Jain expect ‘gold and silver prices to remain volatile this week ahead of the U.S. inflation data and gold could hold its support level of $1984 per troy ounce and silver could also hold $24.50 per troy ounce levels. US March Inflation data to come on 12 April 2023, 8:30 AM, USA Time. According to technical charts gold has support at $1992-1984, while resistance at $2014-2026 per troy ounce. Silver has support at $24.74-24.50, while resistance is at $25.20-25.45 per troy ounce.’
Ravindra V.Rao, CMT, EPAT, VP-Head Commodity Research, Kotak Securities says “COMEX Gold prices fell more than 1% to $2,000 per troy ounce levels, tracking sharp gains in the greenback and US treasury yields. The dollar index rose along with short term rates, as investors anticipated that the Federal Reserve would hike rates in May following Friday’s payrolls data. Markets are now pricing in more than 70% probability that the Fed would raise rates by 25 basis points during the May FOMC meeting. Tomorrow’s core CPI is expected to show a month on month increase of 0.4% in March, and if that is the case, it might cement expectations for a 25 bps hike during the May meeting which might act as a short term headwind for gold prices. However, the medium to long term picture remains bullish, on prospects of a Fed pivot and a looming recession. Robust ETF inflows and rising speculative longs might support prices and prevent any sharp downside.”
According to Manoj Jain ‘at MCX, gold is having support at 59900-59660 and resistance at 60280-60550 while silver is having support at 73850-73220 and resistance at 74800-75200. He suggest buying gold on dips around 59900 with a stop loss of 59660 for the target of 60400 and also suggest buying silver on dips around 73900 with a stop loss of 73220 for the target of 75200.’
Anuj Gupta, IIFL Fin Sec, Daily Commodity Calls 11 April 2023
Buy MCX GOLD JUNE AT 59750, SL 59500, TARGET 60350
Buy MCX SILVER MAY 73800, SL 73000, TARGET 74900
Buy MCX COPPER APR AT 760, SL 754, TARGET 772
Buy MCX CRUDEOIL Apr AT 6450, SL 6340, TARGET 6650
Kedia Advisory, Daily morning calls as on Wednesday, 11 April 2023
SELL GOLD JUN 2023 at 60300, SL 60500, TGT 60000-59800.MCX
SELL SILVER MAY 2023 at 74800, SL 75500, TGT 74000-73500.MCX
SELL CRUDEOIL APR 2023 at 6600, SL 6680, TGT 6500-6400.MCX
BUY NAT GAS APR 2023 at 177.00, SL 172.00, TGT 183.00-188.00.MCX
SELL COPPER APR 2023 at 772.00, SL 778.00, TGT 764.00-760.00.MCX
SELL ZINC APR 2023 at 250.00, SL 254.00, TGT 246.00-243.00.MCX
SELL ALUMINIUM APR 2023 at 208.00, SL 210.00,TGT 205.00-203.00.MCX
BUY LEAD APR 2023 at 180.00 SL 179.00, TGT 181.00-182.00.MCX
Gold Hallmarked Jewelery Rate per 10 gm in Chandigarh 11 April 2023 (Gold Price Today)
23 carat gold price – Rs 59000/10 gm
22 carat gold price – Rs 56600
20 carat gold price – Rs 51300
18 carat gold price – Rs 46400
14 carat gold price – Rs 36300
Sone ki Ginni ka Bhav – Rs 46800/ per 8 grams
Silver Price – 76100
Gold Rate Today in Dehradun (11 April) (Sarafa Mandal Dehradun)
24 carat gold price (24 carat gold price) – Rs 61900 per 10 grams
23 carat gold price (958 Hallmark gold price) – 59300
22 carat gold price (916 Hallmark gold price) – 56600
20 carat gold price (833 Hallmark gold price) – 51560
18 carat gold price (750 Hallmark gold price) – 47040
14 carat gold price (583 Hallmark gold price) – 37140
Price of gold gin (Sone ki Ginni ka Bhav 8 gram 916 Hallmark) – 47820
Silver Price – Rs 76000 per kg
Silver Coin Hallmarked – Rs 880 per piece
Note: The prices being given 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 in gold/silver.
