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 20 June 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.
Comex gold and silver plunged again on Monday amid recovery in the dollar index and the U.S. 10-year bond yields. The dollar index crossed 102 marks once again and the U.S. 10-year bond yields also crossed 3.80% levels and restricted gains of precious metals. The U.S. markets were closed on Monday and there was no economic data release to set the directions. Gold and silver also showed profit taking ahead of the U.S. Fed officials speech and testimony later this week to give more clarity on the further interest rate hikes in the upcoming policy meetings. The U.S. Fed Chairman’s testimony on Wednesday before the U.S. congress could give more clarity on the U.S. economy and interest rates.
Manoj Kumar Jain, Director, Prithvi Finmart 20 June 2023 Comex Gold and Silver Update
‘We expect gold and silver prices to remain volatile in today’s session and gold and silver could hold its respective support levels of $1935 per troy ounce and $23.50 per troy ounce. Gold has support at $1950-1934, while resistance at $1974-1988 per troy ounce. Silver has support at $23.70-23.50, while resistance is at $24.25-24.55 per troy ounce.
Comex Gold and Silver Update by Nirmal Bang Securities 20 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 20 June 2023
Gold LBMA Spot: Congested trade inside $1990-1920 levels remains on card initially. Breaking any of the sides would set fresh directional moves.
Silver LBMA Spot: Possibilities of a mild upticks remains intact. However, break above $24.50 is needed to strengthen the momentum.
Ravindra V. Rao, CMT, EPAT, VP-Head Commodity Research, Kotak Securities Ltd
‘Meanwhile, the yield on UK two year bonds rose above 5% for the first time since July 2008, as investors ramped up their bets on how fast and how far the Bank of England will raise interest rates. Rising yields raise the opportunity cost for holding the non-yielding bullions. Gold has also lost some of its haven support over recent weeks as fears over a regional banking crisis eased and on signs of an improvement in the US-China relationship. Dollar index steadied ahead of a slew of Fed official speeches this week, with Fed Chair Jerome Powell’s testimony on Wednesday. We might see some pressure in gold prices, amid rising yields.’
Ajay Kedia Director Kedia Commodity Comex Gold Levels
GOLD – $1950.39
Resistance: 1956.6-1962.8-1966.9-1973.8
Support: 1946.3-1942.2-1936-1929.1
SILVER – $23.96
Resistance: 24.13-24.31-24.42-24.59
Support: 23.85-23.74-23.57-23.4
Rahul Kalantri, VP Commodities, Mehta Equities
‘Gold has support at $1938-1927 while resistance is at $1951-1962. Silver has support at $23.74-23.58, while resistance is at $24.04-24.22.’
Motilal Oswal Financial Services (MOFSL) Commodity Report 20 June 2023
Data to Watch Today 20 June 2023 (India Time)
20th June 06:00 PM United States Building Permits
20th June 06:00 PM United States Housing Starts
20th June 09:15 PM United States FOMC Member Williams Speaks
Gold Ratio
Gold Silver Ratio: 80.99
Gold Crude Ratio: 27.46
Gold London: Gold and Silver Fix
Gold London AM Fix($/oz): 1954.35
Gold London PM Fix($/oz): 1951.15
Silver London Fix($/oz): 23.95
ETF Holdings as on Previous Close
SPDR Gold: 934.03 (Long), 4.33 (Short)
iShares Silver: 14,406.62 (Long), -14.28 (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: 1971.20 Dollar (Close), 0.5 Dollar (Change)
Silver($/oz) JUL 23: 24.34 Dollar (Close), -0.18 (Change)
Nirmal Bang Securities Outlook For 20 June 2023
‘Gold and silver prices are trading lower on international bourses as prospect of more monetary tightening and ebbing haven demand are subduing prices. We expect gold to trade sideways to lower for the day on signs the Federal Reserve and the European Central Bank will keep raising interest rates, a negative for non-interest-bearing gold.’
Daily Commodity Calls Nirmal Bang Securities 20 June 2023
BUY GOLD AUG (MCX) AT 59000 SL 58750 TARGET 59400/59600
BUY SILVER JULY (MCX) AT 72100 SL 71500 TARGET 72850/73300
Anuj Gupta, VP, IIFL Sec, Daily Commodity Calls 20 June 2023
BUY MCX CRUDEOIL JULY AT 5800 SL 5650 TARGET 6100
BUY MCX GOLD AUG AT 59100 SL 58750 SL 59750
BUY MCX SILVER JULY AT 72200 SL 71600 TARGET 73200
BUY MCX COPPER JUNE AT 725 SL 719 TARGET 733
Manoj Jain, Director, Prithvi Finmart
‘At MCX, gold is having support at 59000-58770 and resistance at 59350-59500 while silver is having support at 72000-71550 and resistance at 72900-73350. We suggest buying silver on the dips around 72000 with a stop loss of 71550 for the target of 72900 and stay away from gold in today’s session..’
Kedia Commodity MCX Gold, Silver Levels
MCXBULLDEX – 16016
Resistance: 16061-16105-16133
Support: 15989-15961-15917
GOLD – 59157
Resistance: 59313-59469-59568
Support: 59058-58959-58803
SILVER – 72446
Resistance: 72847-73248-73519
Support: 72175-71904-71503
Geojit Intraday Technical Outlook Gold and Silver 20 June 2023
MCX Gold: If unable to move past Rs 59000 there are chances
of recovery upticks. A direct dip below the same would trigger further liquidation.
MCX Silver: Break above Rs 74000 needed to extend rallies. Otherwise choppy with mild negative bias expected the day.
Kedia Commodity Daily morning calls as on Tuesday, June 20, 2023
BUY GOLD AUG 2023 @ 59000 SL 58800 TGT 59300-59500.MCX
BUY SILVER JUL 2023 @ 72000 SL 71500 TGT 72600-73000.MCX
SELL CRUDEOIL JUL 2023 @ 5900 SL 6000 TGT 5800-5700.MCX
SELL NAT GAS JUN 2023 @ 220.00 SL 225.00 TGT 213.00-208.00.MCX
SELL COPPER JUN 2023 @ 733.00 SL 738.00 TGT 727.00-724.00.MCX
SELL ZINC JUN 2023 @ 222.00 SL 225.00 TGT 218.00-216.00.MCX
SELL ALUMINIUM JUN 2023 @ 205.00 SL 207.00 TGT 203.00-201.00.MCX
SELL LEAD JUN 2023 @ 185.00 SL 186.00 TGT 184.00-183.00.MCX
Gold Price Today in Carats, fineness and Purity:
24 carat gold price today (Purity 999)- Rs 61000/10 Gram
22 carat gold price today (Purity 916) – Rs 56500/10 Gram
18 carat gold price today (Purity 750) – Rs 46450/10 Gram
14 carat gold price today (Purity 585) – Rs 36600/10 Gram
Silver Price Today (Purity 999) – Rs 74900 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.
