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HomeEnglishComex Gold Can Touch $2040 per troy ounce: Prithvi Finmart

Comex Gold Can Touch $2040 per troy ounce: Prithvi Finmart

Gold Rate today | Silver price | Gold | Silver | MCX Gold price | Comex Group: Gold Price, Silver price update for 13 April Thursday. 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 extended its gain after lower than expected U.S. CPI data and profit taking in the dollar index. The U.S. CPI came at 5.0% on an annual rate in March against it was at 6.0% in February and market is expecting a reading of 5.1%. The U.S. CPI grew by 0.1% in March against it was rose by 0.4% in the previous month and against expectations of a rise of 0.2%. The U.S. core CPI data shows growth of 0.4% in March against previous month’s growth of 0.5%.

Jain said ‘the FOMC minutes also released yesterday and members showed concerns about a mild recession due to banking crisis and higher inflation but not advocated for further aggressive rate hikes. The dollar index plunged after U.S. CPI data and FOMC minutes and supported precious metals. We expect gold and silver prices to remain firm after U.S. data and gold could test $2040 per troy ounce and silver could also test $25.80 per troy ounce levels.’

Manoj Jain says ‘gold has support at $2014-2000, while resistance at $2040-2054 per troy ounce. Silver has support at $25.20-24.94, while resistance is at $25.80-26.00 per troy ounce. At mcx, gold is having support at 60440-60200 and resistance at 60850-61070 while silver is having support at 75400-74950 and resistance at 76600-77200.

Jain suggest ‘buying gold around 60450 with a stop loss of 60200 for the target of 60950 and also suggest buying silver around 75500 with a stop loss of 74950 for the target of 76600.’

Anuj Gupta, IIFL Fin Sec, Daily Commodity Calls 13 April 2023
Buy MCX GOLD JUNE AT 60500, SL 60200, TARGET 60850
Buy MCX Silver may 75400, SL 74750, TARGET 77000
Buy MCX COPPER APR AT 777, SL 770, TARGET 790
Buy MCX CRUDEOIL Apr AT 6750, SL 6550, TARGET 7000

Kedia Advisory, Daily morning calls as on Wednesday, 13 April 2023
BUY GOLD JUN 2023 at 60600 SL 60400 TGT 60850-61000.MCX
BUY SILVER MAY 2023 at 75500, SL 74800, TGT 76200-76800.MCX
SELL CRUDEOIL APR 2023 at 6850, SL 6950, TGT 6750-6650.MCX
BUY NAT GAS APR 2023 at 170.00, SL 165.00, TGT 176.00-180.00.MCX
SELL COPPER APR 2023 at 785.00, SL 792.00, TGT 777.00-772.00.MCX
SELL ZINC APR 2023 at 250.00, SL 254.00, TGT 246.00-243.00.MCX
SELL ALUMINIUM APR 2023 at 207.00, SL 210.00, TGT 204.00-202.00.MCX
SELL LEAD APR 2023 at 183.00, SL 184.00, TGT 182.00-181.00.MCX

Gold Hallmarked Jewelery Rate per 10 gm in Chandigarh 12 April 2023 (Gold Price Today)
23 carat gold price – Rs 59400/10 gm
22 carat gold price – Rs 57000
20 carat gold price – Rs 51700
18 carat gold price – Rs 46700
14 carat gold price – Rs 36600
Sone ki Ginni ka Bhav – Rs 46800/ per 8 grams
Silver Price – 77500

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.

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