Gold price today, Silver price, COMEX, MCX Gold price: Gold, Silver price update for 13 May 2022, Friday. Know Views of India’s Big commodity experts like Manoj Jain, Prithvi Finmart 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.
Comex Gold and silver badly hammered after the dollar index hit fresh 20 year highs. Both precious metals were settled on a weaker note in the international markets. Gold June futures contract were settled at $1824.60 per troy ounce with a loss of 1.57% and silver July futures contract were settled at $20.77 per troy ounce with a loss of 3.72%.
Gold and silver prices crashed on Thursday after the dollar index hit 20 year highs on growing fears of recession in the global economy. The dollar index crossed 1.75 marks and pushed gold prices to three month lows and silver prices to 22 months lows. The U.S. producer prices index data of April released on Thursday are also indicating that there is no sign of easing inflation.
Follow Gold Price Today on Twitter
The PPI data of April came up at 11% year on year and just down a bit from the March reading of 11.5%. There is no sign of ending the Russia-Ukraine war and lockdown in China due to increasing covid-19 cases are growing fears for recession in the global economy. Global equity markets also crashed and U.S. index hit fresh 52 week lows, crypto currencies also crashed and Bitcoin hit 16 month lows on Thursday.
According to Manoj Jain, Director of Commodity and Currency in Prithvi Finmart gold prices slipped below the crucial support level of $1830 per troy ounce and silver also breaches $21 per troy ounce levels on a daily closing basis. Gold and silver are trading at make or break levels and if the dollar index continues to rise with current pace could push precious metals lower in the coming sessions.
Join God Price Today Telegram Group for instant updates
Jain said gold is having support at $1814-1800 per troy ounce and resistance at $1838-1850 per troy ounce while silver is having support at $20.50-20.20 per troy ounce and resistance at $21.00-21.30 per troy ounce. At MCX, gold is having support at 50000-49770 and resistance at 50380-50550 while silver is having support at 58300-57500 and resistance at 59220-60000.
Jain suggest that traders should stay away from the markets while long-term investors can start buying in the SIP mode.
Anuj Gupta VP in IIFL Sec is expecting gold and silver prices may correct further. Gold may test 49000 levels and silver may test 56000 levels very soon. In International market gold may test $1770 and Silver may test $20.
According to Kedia Advisory Gold trading range for the day is 49614-51226 and Silver trading range for the day is 57295-61383.
Note: If you want Gold and Silver price news on your mobile write ‘Gold News Update’ and send it on whatsapp no +918448469588
Anuj Gupta, VP, IIFL Sec, Daily Commodity Calls 13 May 2022
Sell Gold June at 50500, SL 50850, TARGET 49700
Sell Silver July at 59000, SL 59750, TARGET 58000
Sell MCX COPPER May AT 750, SL 757, TARGET 740
Sell MCX Crude Oil May at 8250, SL 8420, TARGET 7800
Buy USDINR may AT 77.50, SL 77.30 ,TARGET 78.00
Gold Hallmarked Jewelery Rate per 10 gm in Chandigarh 12 May 2022 (Gold Price Today)
23 carat gold price – Rs 50900
22 carat gold price – Rs 49900
20 carat gold price – Rs 45100
18 carat gold price – Rs 40900
14 carat gold price – Rs 32300
Sone ki Ginni ka Bhav – Rs 41100/ per 8 grams
Silver Price (Silver Price 999.9) – Rs 63100/per kg
Note: The prices being given to you 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 gold/silver.
