Gold Rate today | Silver price | Gold | Silver | MCX Gold price | Comex Group: Comex Gold Price, Silver price update for 15 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 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.
According to Commodity Market Expert Sugandha Sachdeva ‘gold prices jumped to a new record high of Rs.61371 per 10gm and around $2050 per ounce in the international markets during the week. However, a sharp rebound in the dollar index towards the close of the week from multi-month lows of 100.80 odd levels took some sheen off the yellow metal, pushing it into slight negative territory for the week. It was basically hawkish comments from one of the Fed officials that supported strength in the greenback across the board.
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Sachdeva said ‘The precious metal initially spiralled higher as US consumer prices rose by 5% in March, the lowest level in 2 years, even as core prices remained stubbornly higher. Besides, the US Producer Price Index, a measure of wholesale inflation, declined to 2.7% as compared to 4.9% in February, reflecting that price pressures, though they remain elevated, are now receding from four-decade highs. There are a lot of hopes that the US Fed will finally wind down its rate hike cycle, which is leading to a decline in the dollar index and boosting the appeal of gold.’
According to Manoj Jain, Director of Commodity and Currency in Prithvi Finmart ‘gold and silver showed heavy profit taking on Friday after hawkish remarks from the U.S. Fed Governor Christopher Waller for raising interest rates. The dollar index rebound from one year lows and held its support level of 100.55. The U.S. 10-year bond yields also jumped again and crossed 3.50% levels.
Jain said ‘the U.S. retail sales and core retail sales data released on Friday was also weaker than expected and also trigger profit taking in precious metals. The U.S. retail sales fell by 1.0% in March against it was decline by 0.2% in February. The U.S. core retail sales also fell by 0.8% against expected decline of 0.4%. The U.S. consumer sentiment expectations also rose to 63.5 and cap gains of precious metals.
Jain expect ‘gold and silver prices to remain volatile this week and gold prices could test its support level of $1984 per troy ounce and silver could also test $25 per troy ounce levels. Gold has support at $2000-1984, while resistance at $2032-2045 per troy ounce. Silver has support at $25.20-24.94, while resistance is at $25.80-26.00 per troy ounce.’
Jain Said ‘at MCX, gold is having support at 60060-59770 and resistance at 60580-60800 while silver is having support at 75100-74450 and resistance at 76200-76650. We suggest selling gold on rise around 60600 with a stop loss of 60880 for the target of 60000.’
According to Anuj Gupta, VP in IIFL Fin sec says fundamentally the trend of gold and silver are positive on the back of weakness in dollar and strong central banks demand. In India due to upcoming Akshaya tritiya jewellers are expecting good sales.
Augmont weekly blog on gold says ‘whatever angle you take, one thing is certain. Precious metals are currently everyone’s favourite trade, and this trend is expected to continue for the rest of the year. The environment remains bullish, with Gold and Silver prices expected to rise 20% from current levels in FY 2023-24 to $2400 (Rs 70000) for gold and $30 (Rs 90000) for silver.’
Gupta said ‘technically the trend of gold and silver are positive as prices are forming higher top and higher bottom formation. Gold has immediate support at 59800-59300 ($1990-$1965) levels while resistance at 60800-61300 levels ($2025-$2050) levels. Silver has immediate support at 74000-72000 ($25 / $24) while resistance at 77000-79000 ($26-$27) levels.
Gupta is ‘expecting that gold may test $2030 to $2050 levels and Silver may test $27 to $28 levels in the coming week.’
Sachdeva said ‘while there are some signs of mild exhaustion in gold’s on-going rally and any further retreat in the dollar index would be negative for gold prices, they look likely to find cushion at Rs.59700 per 10gm and then Rs.58500 per 10gm mark, which correspond to support levels of $1980 and then $1945 per ounce in the international markets.’
She said ‘meanwhile, a closing above $2000 per ounce is a positive signal, and the price set up at the domestic markets indicates that a break above Rs.61500 per 10gm would bode well for the precious metal and can take it higher towards Rs.62500 per 10gm mark in the coming days.’
Gold Price in Lucknow issued by Lucknow Sarafa Association
24 carat gold – Rs 63000
22 karat gold – Rs 61100
18 carat gold – Rs 55800
Silver – Rs 77000
Gold Hallmarked Jewelery Rate per 10 gm in Chandigarh 15 April 2023 (Gold Price Today)
23 carat gold price – Rs 59100/10 gm
22 carat gold price – Rs 56600
20 carat gold price – Rs 51400
18 carat gold price – Rs 46500
14 carat gold price – Rs 36400
Sone ki Ginni ka Bhav – Rs 46900/ per 8 grams
Silver Price – 77300
Gold Rate Today in Dehradun (15 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 77000 per kg
Silver Coin Hallmarked – Rs 890 per piece
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.
