Gold Rate today | What is Silver price | Gold | Silver | MCX Gold price | Comex Group: Gold Price, Silver price update for 29 April, Saturday. Know Views of India’s Big commodity experts like Manoj Jain, Prithvi Finmart, Market and Commodity Expert Sugandha Sachdeva, Ajay Kedia, Kedia Commodity and Anuj Gupta of IIFL Fin 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 Group and MCX.
Commodity Market Expert Sugandha Sachdeva said ”Comex gold prices are now witnessing a spell of profit booking as market participants are bracing for another 25bps rate hike by the US Fed. Hawkish signals from various Fed officials reiterating the need for further rate hikes ahead of the US central bank’s meeting next week has led to a lot of concerns about tighter liquidity conditions, underscoring the weakness in gold prices. The FOMC meeting is scheduled for May 2-3, 2023, next week. The outcome of the Federal Reserve meeting will be announced on May 3, which is a crucial day for the movement of gold and silver prices.
She said ”besides, the retreat in the dollar index from multi-month lows and a revival in “risk on” sentiments have weighed on the asset largely viewed as a safe haven. The latest data indicated persistent price pressures in the US as the reading of personal consumption expenditure prices was higher than expected during the first quarter of 2023, raising concerns that Fed may not be ready to pause its most aggressive rate hike cycle in 40 years. The precious metal will likely witness significant volatility around the key event and take further cues from signals about the future monetary policy path.”
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According to Sachdeva ”on Comex, prices need to surpass the immediate hurdle of $2010 per ounce to continue with their upwards momentum, or else further correction will likely set in. Immediate support on the other hand is pegged at $1975 per ounce or Rs.59500 per 10gm mark, while key support for coming days resides at Rs.58500 per 10gm mark or 1945 per ounce mark.”
Anuj Gupta, VP of Commodity and Currency in IlFL Fin said ”The upcoming FOMC Meeting and decision on interest rates may provide a fresh direction for gold and silver. If the interest rate is raised by more than 0.25 basis points, gold and silver prices are likely to correct; otherwise, both metals will continue trading with a positive bias.
Gupta expect ”next week’s session to be range-bound with a positive bias and recommend buying at the support levels in gold and silver. If Comex gold prices breach the $2010 levels, it may test the $2030 levels, while if silver breaches the $26 levels, it may test the $27 to $28 levels.”
Gupta said ”for the next week, Comex gold has an immediate support level at $1975/$1950 (MCX 59500/ 59000) and a resistance level at $2010/$2030 (60500/61000). Meanwhile, Comex silver has an immediate support level at $24.20/$23.50 (MCX 73000/70500) and a resistance level at $25.50/$26.00 (MCX 77000/78500).
Gold Hallmarked Jewelery Rate per 10 gm in Chandigarh 29 April 2023 (Gold Price Today) :
23 carat gold price – Rs 59800/10 gm
22 carat gold price – Rs 57300
20 carat gold price – Rs 52000
18 carat gold price – Rs 47100
14 carat gold price – Rs 37000
Sone ki Ginni ka Bhav – Rs 47400/ per 8 grams
Silver Price – Rs 76700 Per KG
Gold Rate Today in Dehradun (29 April 2023) (Sarafa Mandal Dehradun):
24 carat gold price (24 carat gold price) – Rs 61900 per 10 grams
23 carat gold price (958 Hallmark gold price) – 59300
22 carat gold price (916 Hallmark gold price) – 56600
20 carat gold price (833 Hallmark gold price) – 51560
18 carat gold price (750 Hallmark gold price) – 47040
14 carat gold price (583 Hallmark gold price) – 37140
Price of gold gin (Sone ki Ginni ka Bhav 8 gram 916 Hallmark) – 47820
Silver Price – Rs 76000 per kg
Silver Coin Hallmarked – Rs 880 per piece
Gold rates in Mumbai 29th April 2023 :
Gold 999 – Rs. 60168
Gold 995 – Rs. 59927
Gold 916 – Rs. 55114
Gold 750 – Rs. 45126
Gold 585 – Rs. 35198
Silver 999 – Rs. 73868
Lucknow Sarafa Association 29th April 2023, the gold and silver rates :
24 carat gold- Rs. 61800 (gold prices in Lucknow are Rs. 100 more expensive)
22 carat gold- Rs. 60900
18 carat gold- Rs. 55600
Silver Price – Rs. 76000
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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 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 in gold/silver.