Gold Rate today | What is Silver price | Gold | Silver | MCX Gold price | Comex Group | Comex Group Gold Price | London Spot: Gold Price, Silver price update for 23 June 2023, Friday. Know Views of India’s Big commodity experts like Manoj Jain, Prithvi Finmart, Ajay Kedia, Kedia Commodity and Anuj Gupta of IIFL Fin Sec, Nirmal Bang Securities, Kotak Securities, Motilal Oswal Financial Services, SMC Global Securities and Geojit on Comex 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.
On Thursday, gold and silver futures reached their lowest levels in approximately three months, influenced by a series of interest rate hikes by central banks and a more hawkish stance expressed by Federal Reserve Chairman Jerome Powell. The primary gold contract for August delivery experienced a decline of 1.09 percent or $21.20, settling at $1,923.70 per ounce. The rise in interest rates implemented by various global central banks had a dampening effect on the gold market. Notably, the Bank of England surprised economists by increasing rates by 50 basis points, and similar actions were taken by the central banks of Switzerland, Norway, and Turkey. Meanwhile, Powell continued his testimony to Congress, and the economic data released on Thursday presented a mixed picture.
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Comex Gold and Silver Update by Nirmal Bang Securities 23 June 2023
‘Gold prices are supported at lower levels like 1940-44 and likely to test 1970-90.
We are recommending to buy on dips around 1955-50 for a target of 1970-80.We recommend buying around 23.50-40 for a target of 24.60-80.’
Gold LBMA Spot Geojit Daily Report 23 June 2023
Gold LBMA Spot: Intraday momentum likely to be weak as long as prices stay below $1920. A direct turn above $1980 is a reversal signal.
Silver LBMA Spot: Intraday bias remains on the weaker side as long as it stays below $22.50. Upside reversal point is seen at $24.50.
Motilal Oswal Financial Services (MOFSL) Commodity Report 23 June 2023
Ajay Kedia Director Kedia Commodity Comex Gold Levels
GOLD$ – 1913.59
Resistance: 1927.7-1941.9-1949.3-1956.2
Support: 1906.2-1898.8-1884.6-1877.7
SILVER$ – 22.25
Resistance: 22.57-22.88-23.05-23.22
Support: 22.08-21.92-21.6-21.43
Ravindra Rao, CMT, EPAT, VP-Head Commodity Research, Kotak Securities Ltd
‘Following recent rate hikes by the ECB, RBA, and the BoC, the Bank of England surprised markets with another 50 bps rate hike, amid stubbornly high inflation, in tandem with recent rate increases by monetary authorities in Switzerland, Norway, and Turkey raising the opportunity cost of the non-yielding yellow metal. Hawkish stance from majority of the central banks shows that Fed is not an outlier here, and thus might keep the dollar supported. US economic data released yesterday were kind of mixed, showing weakness in Jobs market and recovery in Housing market. Gold prices continue to decline amid an elevated greenback and investors keenly await a slew of flash Manufacturing PMIs from UK, US and Europe later today.’
Rahul Kalantri, VP Commodities, Mehta Equities
‘Gold has support at $1904-1892 while resistance is at $1925-1936. Silver has support at $22.02-21.86, while resistance is at $22.35-22.50.’
Data to Watch Today 23 June 2023 (India Time)
23rd June 07:15 PM United States Flash Manufacturing PMI (Impact on gold silver prices- High)
23rd June 07:15 PM United States Flash Services PMI (Impact on gold silver prices- High)
Gold Ratio
Gold Silver Ratio: 84.86
Gold Crude Ratio: 27.68
Gold London: Gold and Silver Fix
Gold London AM Fix($/oz): 1927.95
Gold London PM Fix($/oz): 1920.05
Silver London Fix($/oz): 22.62
ETF Holdings as on Previous Close
SPDR Gold: 929.70 (Long), -1.73 (Short)
iShares Silver: 14,586.51 (Long), 000 (Short)
Weekly CFTC Positions
Gold($/oz): 126927 (Long), 33623 (Short), 93304 (Net)
Silver: 40237 (Long), 25600 (Short), 14637 (Net)
COMEX Futures Watch (Last Close)
Gold($/oz) Aug 23: 1923.70 Dollar (Close), -21.2 Dollar (Change)
Silver($/oz) JUL 23: 22.67 Dollar (Close), -0.35 (Change)
Nirmal Bang Securities Outlook For 23 June 2023
‘Gold and silver prices are trading flat on international bourses. We expect gold to trade lower for the day as Federal Reserve Chair Jerome Powell reiterated the central bank will continue raising interest.’
SMC Global Securities Views on MCX Gold and Silver 23 June
Gold may trade in the range of 57800-58300, Silver also trades in the range of 67800-68400 where selling near resistance is advised.
Gold prices on Friday were on track for their biggest weekly drop since February as prospects of additional interest rate hikes by the U.S.
Federal Reserve this year weighed on bullion’s appeal.
Daily Commodity Calls Nirmal Bang Securities 23 June 2023
SELL GOLD AUG (MCX) AT 58450 SL 58700 TARGET 58000/57800
BUY SILVER JULY (MCX) AT 67500 SL 66900 TARGET 68350/68800
Kedia Commodity MCX Gold, Silver Levels
MCXBULLDEX – 15585
Resistance: 15677-15768-15819
Support: 15535-15484-15393
GOLD – 58196
Resistance: 58522-58849-59035
Support: 58009-57823-57496
SILVER – 68308
Resistance: 68850-69392-69842
Support: 67858-67408-66866
Geojit Intraday Technical Outlook Gold and Silver 23 June 2023
MCX Gold: While below Rs 59000 weakness would continue the day. Break above Rs 60500 could negate the view.
MCX Silver: Expect weakness to continue the day. Break above Rs 74000 would trigger rallies.
Kedia Commodity Daily morning calls as on Tuesday, June 23, 2023
BUY GOLD AUG 2023 at 58000 SL 57800 TGT 58300-58500.MCX
BUY SILVER JUL 2023 at 67800 SL 67200 TGT 68600-69200.MCX
BUY CRUDEOIL JUL 2023 at 5650 SL 5550 TGT 5750-5850.MCX
SELL NAT GAS JUN 2023 at 216.00 SL 220.00 TGT 210.00-206.00.MCX
SELL COPPER JUN 2023 at 730.00 SL 734.00 TGT 725.00-722.00.MCX
SELL ZINC JUN 2023 at 218.00 SL 221.00 TGT 215.00-213.00.MCX
SELL ALUMINIUM JUN 2023 at 201.00 SL 203.00 TGT 198.00-196.00.MCX
SELL LEAD JUN 2023 at 184.00 SL 185.00 TGT 183.00-182.00.MCX
Gold Price Today in Carats, fineness and Purity:
24 carat gold price today (Purity 999)- Rs 60100/10 Gram
22 carat gold price today (Purity 916) – Rs 55500/10 Gram
18 carat gold price today (Purity 750) – Rs 45600/10 Gram
14 carat gold price today (Purity 585) – Rs 35800/10 Gram
Silver Price Today (Purity 999) – Rs 70500 per kg
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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 jewellers add GST, making charges and hallmarking charges to the gold price. Many jewellers 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: The information presented in this article is i intended for informational purposes only and reflects the views of the expert. Prior to making any investment decisions, it is recommended that you seek the advice of a financial advisor. The individuals affiliated with Gold Price Today do not engage in the personal buying, selling, or trading of gold/silver. We cannot be held liable for any gains or losses incurred.