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 30 May 2023, Tuesday. 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 Monday, Comex gold and silver were settled on a slightly weaker note in the international markets. Comex gold August futures contract were settled at $1,959.75 per troy ounce down by 0.09% and silver July futures contract were settled at $23.27 per troy ounce, down by 0.60%. Gold and silver were traded sideways on Monday due to holiday in the U.S. markets on account of “Memorial Day”.
Comex gold and silver also showing resistance due to strength in the dollar index and possible U.S. debit ceiling deal. The dollar index is trading nearly three month highs and capping gains of precious metals. Gold prices are trading nearly two month lows and silver prices are also at seven week lows amid possible U.S. debt ceiling deal and hawkish FED. The U.S. FED officials are divided on further interest rate hikes but show concerned about high inflation. As per the market sentiment meter there is 63% probability of another interest rate hikes in the upcoming monetary policy meeting of the U.S. FED in June month. US CB Consumer Confidence data will come at 7:30 PM today.
Manoj Kumar Jain, Director, Prithvi Finmart
‘We expect gold and silver prices to remain volatile in today’s session and could face resistance at higher levels. Gold has support at $1945-1934, while resistance at $1968-1984 per troy ounce. Silver has support at $23.00-22.70, while resistance is at $23.50-23.84 per troy ounce.’
Comex Gold and Silver Update by Nirmal Bang Securities 30 May 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 30 May 2023
Gold LBMA Spot: Choppy trading expected initially. However, there are chances of a mild recovery upticks if it holds the support of $1920.
Silver LBMA Spot:Further selloffs are seen only a break of $22.40. If unable to break the same would call for recovery upticks for the day.
Ajay Kedia, Director, Kedia Commodity, Comex Gold View 30 May 2023
Comex Gold Resistance: 1974-1968 Dollar
Comex Gold Support: 1958- 1953 Dollar
Comex Silver Resistance: 23.64-23.51 Dollar
Comex Silver Support: 23.25- 23.12 Dollar
Data to Watch Today 30 May 2023 (India Time)
30th May 06:30 PM United States HPI
30th May 06:30 PM United States S&P/CS Composite-
30th May 07:30 PM United States CB Consumer Confidence (Impact on Gold and Silver Price-HIGH)
30 May 2023: EURO- Spanish Flash CPI y/y
30 May 2023: EURO M3 Money Supply y/y
30 May 2023: EURO Private Loans y/y
30 May 2023: USD CB Consumer Confidence
Gold Ratio
Gold Silver Ratio: 84.04
Gold Crude Ratio: 27.01
Gold London: Gold and Silver Fix
Gold London AM Fix($/oz): 1,953.50
Gold London PM Fix($/oz): 1947.90
Silver London Fix($/oz): 23.15
ETF Holdings as on Previous Close
SPDR Gold: 941.29 (Long), 00 (Short)
iShares Silver: 14,565.78 (Long), 00 (Short)
Weekly CFTC Positions
Gold($/oz): 162666 (Long), 30877 (Short), 131789 (Net)
Silver: 45779 (Long), 32336, (Short), 13443(Net)
COMEX Futures Watch (Last Close)
Gold($/oz) Aug 23: 1963.10 Dollar (Close), -0.80 Dollar (Change)
Silver($/oz) JUL 23: 23.36 Dollar (Close), -0.45 (Change)
Nirmal Bang Securities Outlook For 30 May 2023
Gold and silver prices are trading mix today on international bourses. We expect precious metals prices on Indian bourses to trade range-bound to slightly higher for the day. We recommend buy on dips in gold and silver in intra-day trading sessions, as investors weighed potential headwinds to getting a US debt-ceiling deal through Congress, including opposition from environmentalists, defense hawks and conservative hard-liners.
Daily Commodity Calls Nirmal Bang Securities 30 May 2023
BUY GOLD JUNE (MCX) AT 59400 SL 59100 TARGET 59700/59850
BUY SILVER JULY (MCX) AT 71000 SL 70300 TARGET 72000/72500
Anuj Gupta, VP, IIFL Sec, Daily Commodity Calls 30 May 2023
SELL MCX CRUDEOIL JUNE AT 6100 SL 6250 TARGET 5900
SELL MCX GOLD JUNE AT 59600 SL 60050 SL 59000
SELL MCX Silver July 71600 SL 72100 TARGET 70500
BUY MCX COPPER JUNE AT 709 SL 703 TARGET 722
BUY NSE NIFTY AT 18500 SL 18400 TARGET 18800
Geojit Intraday Technical Outlook Gold and Silver 30 May
MCX Gold:As long as the support of Rs 59000 remains hold, expect recovery rallies. Consistent trades below the same is a signa of downside reversal.
MCX Silver: Expect a choppy trade inside Rs 72000-70000 levels and breaking any of the sides would suggest fresh directional moves.
Manoj Jain, Director, Prithvi Finmart
At MCX, gold is having support at 59280-59050 and resistance at 59660-59880 while silver is having support at 70500-70100 and resistance at 71650-72200. We suggest selling gold August futures contract on the rise around 59650 with a stop loss of 59880 for the target of 59250.
Kedia Commodity Daily morning calls as on Monday, May 30, 2023
BUY GOLD AUG 2023 at 59300 SL 59100 TGT 59600-59800.MCX
BUY SILVER JUL 2023 at 70500 SL 69800 TGT 71400-72000.MCX
BUY CRUDEOIL JUN 2023 at 5950 SL 5850 TGT 6050-6150.MCX
BUY NAT GAS JUN 2023 at 192.00 SL 186.00 TGT 198.00-202.00.MCX
BUY COPPER JUN 2023 at 710.00 SL 705.00 TGT 716.00-720.00.MCX
BUY ZINC JUN 2023 at 210.00 SL 207.00 TGT 213.00-215.00.MCX
BUY ALUMINIUM JUN 2023 at 206.00 SL 203.00 TGT 209.00-211.00.MCX
BUY LEAD JUN 2023 at 183.00 SL 182.00 TGT 184.00-185.00.MCX
Gold Price Today in Carats, fineness and purity 30 May 2023:
24 carat gold price today (Purity 999)- Rs 61700/10 Gram
23 carat gold price today (Purity 995)- Rs 59500/10 Gram (Rs 100 Down)
22 carat gold price today (Purity 916) – Rs 57000/10 Gram
18 carat gold price today (Purity 750) – Rs 46800/10 Gram
14 carat gold price today (Purity 585) – Rs 36700/10 Gram
Silver Price Today (Purity 999) – Rs 72990 per kg (Rs 350 Down)
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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.
