Gold Rate today | What is Silver price | Gold | Silver | MCX Gold price | Comex Group | Comex Group Gold Price | Comex Gold| London Spot: Gold Price, Silver price update for 1 June 2023, Thursday. Know Views of India’s Big commodity experts like Manoj Jain, Prithvi Finmart, Sugandha Sachdeva Acme Investment Advisors, Ajay Kedia, Kedia Commodity and Anuj Gupta of IIFL Fin Sec, Nirmal Bang Securities, Kotak Securities, Motilal Oswal Financial Services 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 Wednesday Comex gold August futures contract were settled at $1,982.10 per troy ounce up by 0.25% and silver July futures contract were settled at $23.59 per troy ounce, up by 1.49%. Domestic markets were also settled on a positive note. Comex gold and silver gained on Wednesday amid safe-haven demand and decline in the U.S. 10-year bond yields.
Chinese manufacturing PMI unexpectedly fell to 48.8 in May month against it was at 49.2 in April; sharp fall in Chinese manufacturing activities supported safe-haven demand of precious metals. Gold and silver also gained after U.S. 10-year bond yields slipped below 3.65% amid possible U.S. debt ceiling deal. The U.S. JOLT job openings data was also better than expected as job openings increased to 10.10 million on the last day of May against expected reading of 9.41 millions.
Today, at 05:45 PM, the United States ADP Non-Farm Employment Change data was released, followed by the release of United States Unemployment Claims data at 06:00 PM. Additionally, at 07:30 PM, the United States ISM Manufacturing PMI will be announced. These data releases have a significant impact on the prices of Comex gold and silver.
Manoj Kumar Jain, Director, Prithvi Finmart 1 June 2023 Comex Gold and Silver Update
The dollar index reacted negatively after strong job openings data and supported gold and silver prices. We expect gold and silver prices to remain volatile in today’s session and could hold its support level of $1955 and $23.20 per troy ounce respectively. Gold has support at $1968-1955, while resistance at $1996-2010 per troy ounce. Silver has support at $23.20-23.00, while resistance is at $23.84-24.10 per troy ounce.
Comex Gold and Silver Update by Nirmal Bang Securities 1 June 2023
Gold prices are supported at lower levels like $ 1940-30 and likely to bounce back to $1980; we are recommending going long for a pullback till $1970-80. Silver looks to take a pullback till $23.70-23.90; we are recommending going long between $23.00-22.90 for the target of $23.90-24.00
London Gold, Gold LBMA Spot Geojit Daily Report 1 June 2023
Gold LBMA Spot: Choppy trading expected initially. However, there are chances of recovery upticks to continue while prices stay above $1920.
Silver LBMA Spot: Recovery bias may continue but have stiff resistance at $24.20. A direct break below $22.40 would continue weakness.
Data to Watch Today 1 June 2023 (India Time)
1st June 05:45 PM United States ADP Non-Farm Employment Change (Impact on Gold and Silver prices- High)
1st June 06:00 PM United States Unemployment Claims (Impact on Gold and Silver prices- High)
1st June 07:30 PM United States ISM Manufacturing PMI (Impact on Gold and Silver prices- High)
1st June 07:30 PM United States ISM Manufacturing Prices (Impact on Gold and Silver prices- Medium)
1st June 10:30 PM United States FOMC Member Harker Speaks (Impact on Gold and Silver prices- Medium)
Gold Ratio
Gold Silver Ratio: 84.03
Gold Crude Ratio: 29.11
Gold London: Gold and Silver Fix
Gold London AM Fix($/oz): 1959.00
Gold London PM Fix($/oz): 1964.40
Silver London Fix($/oz): 23.26
ETF Holdings as on Previous Close
SPDR Gold: 939.56 (Long), -1.73 (Short)
iShares Silver: 14,554.35 (Long), -11.42 (Short)
Weekly CFTC Positions
Gold($/oz): 148165 (Long), 30775 (Short), 117390 (Net)
Silver: 43901 (Long), 30724 (Short), 13177 (Net)
COMEX Futures Watch (Last Close)
Gold($/oz) Aug 23: 1982.10 Dollar (Close), 5 Dollar (Change)
Silver($/oz) JUL 23: 23.59 Dollar (Close), 0.35 (Change)
Nirmal Bang Securities Outlook For 1 June 2023
Gold and silver prices are trading flat on international bourses. We expect precious metals prices on Indian bourses to trade higher for the day. We recommend buy on dips in gold and silver in intra-day trading sessions as the US debt-limit deal passed in the House, and investors pared bets for more Federal Reserve rate hikes.
Comex Gold and Silver: Ajay Kedia, Director Kedia Commodity Views 1 June 2023
Comex Gold Support: 1979-1976 Dollar
Comex Gold Resistance: 1981-1987 Dollar
Comex Silver Support: 23.59-23.52 Dollar
Comex Silver Resistance: 23.76-23.71 Dollar
Daily Commodity Calls Nirmal Bang Securities 1 June 2023
BUY GOLD AUG (MCX) AT 60100 SL 59850 TARGET 60500/60700
BUY SILVER JULY (MCX) AT 71700 SL 71200 TARGET 72800/73300
Anuj Gupta, VP, IIFL Sec, Daily Commodity Calls 1 June 2023
BUY MCX CRUDEOIL JUNE AT 5550 SL 5450 TARGET 5900
BUY MCX GOLD JUNE AT 60000 SL 59750 SL 60500
BUY MCX Silver July 71500 SL 71000 TARGET 72700
BUY MCX COPPER JUNE AT 705 SL 700 TARGET 715
BUY NSE NIFTY AT 18450 SL 18300 TARGET 18650
Geojit Intraday Technical Outlook Gold and Silver 1 June 2023
MCX Gold: If the support of Rs 59000 remains hold, expect recovery rallies. Consistent trades below the same is a sign of downside reversal.
MCX Silver: AS long as prices stay above Rs 72000 it may continue with the positive momentum. A direct drop below Rs 70000 is a weak signal.
Manoj Jain, Director, Prithvi Finmart
‘At MCX, gold is having support at 60000-59770 and resistance at 60440-60600 while silver is having support at 71700-71150 and resistance at 72750-73300. We suggest buying silver on dips around 71700 with a stop loss of 71100 for the target of 73000.’
Gold Price Today in Carats, fineness and purity 1 June 2023:
24 carat gold price today (Purity 999)- Rs 61950/10 Gram
23 carat gold price today (Purity 995)- Rs 59800/10 Gram
22 carat gold price today (Purity 916) – Rs 57300/10 Gram (Rs 200 Down)
18 carat gold price today (Purity 750) – Rs 47100/10 Gram
14 carat gold price today (Purity 585) – Rs 37000/10 Gram
Silver Price Today (Purity 999) – Rs 74200 per kg (Rs 700 Increase)
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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.