Gold price today, Silver price, COMEX, MCX Gold price: Gold, Silver price update for 31 March 2022, Thursday. Know Views of India’s Big commodity experts like Manoj Jain of Prithvi Finmart, Ajay Kedia of Kedia Commodity 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.
Gold and silver recovered from five week lows on Wednesday amid recovery in crude oil prices and decline in the dollar index and U.S. bond yields. Both precious metals were settled on a positive note in the international markets.
Gold and silver recovered from five week lows made on Tuesday after recovery in crude oil prices and weakness in the dollar index and the U.S. bond yields. Crude oil prices showed a smart recovery after heavy sell-off in the starting of the week as inventories declined in the United States.
The dollar index also slipped from their highs and slipped below 98 marks on Wednesday while benchmark 10-year bond yields also cooled-off and slipped below 2.40% after hitting three year highs. Precious metals also get support from the downbeat U.S. fourth quarter GDP data released on Wednesday.
The U.S. Commerce Department said on Wednesday that, the third and final estimate for fourth-quarter GDP showed that the U.S. economy advanced by 6.69% and down from the previous estimate of 7%. The data missed the expectations as analysts were predicting a growth of 7%. However, progress on peace talks between Russia-Ukraine cap gains of the precious metals.
Manoj Jain, Director of Commodity and Currency in Prithvi Finmart says both precious metals to remain volatile in today’s session ahead of the OPEC meetings. COMEX Gold is having support at $1922-1908 per troy ounce and resistance at $1945-1958 per troy ounce while silver is having support at $24.84-24.55 per troy ounce and resistance at $25.40-25.70 per troy ounce.
According to Jain, gold is having support at 51550-51300 and resistance at 51920-52100 while silver is having support at 67100-66500 and resistance at 67850-68200. He suggest selling in gold June futures contract around 51850 with a stop loss of 52050 on a closing basis for the target of 51500.
Anuj Gupta, IIFL Sec, Daily Commodity Calls 31 March
Sell Gold Apr at 52000, Stop Loss 52350,Target 51500
Sell Silver May at 68000, Stop Loss 68700, Target 67000
Sell MCX Copper Apr AT 827, Stop Loss 832, Target 816
Sell Crude oil apr at 8200, Stop Loss 8360, Target 7900
Sell USDINR apr AT 76.30, Stop Loss 76.60, Target 75.80
Ajay Kedia, Kedia Commodity, Daily Commodity Calls 31 March
SELL GOLD 51850, SL 52100, TGT 51550
SELL SILVER 68500, SL 69200, TGT 67500
Gold Hallmarked Jewelery Rate per 10 gm in Chandigarh 30 March 2022 (Gold Price Today)
23 carat gold price – 50600 rupees (100 rupees expensive)
22 carat gold price – Rs 49700
20 carat gold price – Rs 44800
18 carat gold price – Rs 40500
14 carat gold price – Rs 32100
Sone ki Ginni ka Bhav – Rs 40800/ per 8 grams
Silver Price (Silver Price 999.9) – Rs 68800/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. Gold Price Today will not be responsible for any loss caused to you.