Gold price today, Silver price, COMEX, MCX Gold price: Gold, Silver price update for 6 May 2022, Friday. Know Views of India’s Big commodity experts like 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.
Dollar index is trading at 103.72, near 20 year high levels. The commodity prices are trading on a cool side. Gold is trading below 2 month low levels at $1870 levels. Silver is trading at 2 month low levels at $22.30 levels. Recently Fed Central bank increase interest rates by 0.50 point basis. US bond yield and Dollar index increase sharply.
Demand of dollar may increase further till 105 to 107 levels. Anuj Gupta VP in IIFL Sec says we may see that Commodity prices may cool in second quarter of year 2022. In this year Gold test $2070.20 levels and on MCX it touched 56163 levels. Silver touched $26.94 and 73813 levels.
Anuj Gupta is expecting that Gold may test $1820 to $1780 levels till June end and on MCX it may test 49000 to 48000 levels. Silver may test $18 to $20 levels till June end and on MCX it may test 58000 to 60000 levels.
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According to Kedia Advisory on MCX Gold trading range for the day is 50399-51807. Silver trading range for the day is 60845-64957.
According to Chirag Mehta, CIO & Ghazal Jain, Fund Manager- alternative Investment, Quantum AMC Central banks continue to value gold’s utility in these uncertain times and thus added 84 tonnes to global official gold reserves during the first quarter. They expect central banks to continue to diversify away from dollar assets into gold. The Fed’s tightening cycle will continue to put downward pressure on gold for the next couple of months.
They said on the other hand, worries about growth, geopolitics, and inflation will keep demand supported. The result will be volatility and rangebound prices which can be a good entry point for long-term investors. With so many moving parts, the likelihood of the Fed achieving a soft landing for the economy is low. A growth slowdown, high debt levels, and financial market instability will ensure that the Fed’s tightening is short-lived, making conditions conducive for gold again. Mehta suggested Investors should be guided by their asset allocation and keep anywhere between 10-15% of their portfolio in gold. This is best achieved by staggering investments in gold ETFs and gold fund of funds.
Anuj Gupta, VP, IIFL Sec, Daily Commodity Calls 6 May 2022
Sell Gold June at 51200, SL 51550, TARGET 50700
Sell Silver july at 63000, SL 63850, TARGET 61500
Sell MCX Copper May AT 767, sl 773, TARGET 757
Buy MCX Crude Oil May at 8150, SL 7950, TARGET 8400
Buy USDINR may AT 76.40, SL 76.20, TARGET 77.10
Kedia Advisory, Daily morning calls as on Friday, May 6, 2022
BUY GOLD JUN 2022 @ 50600 SL 50300 TGT 50900-51100.MCX
BUY SILVER JUL 2022 @ 61500 SL 61000 TGT 62300-62800.MCX
SELL CRUDEOIL MAY 2022 @ 8320 SL 8450 TGT 8120-8000.MCX
BUY NAT GAS MAY 2022 @ 620.00 SL 600.00 TGT 650.00-670.00.MCX
SELL COPPER MAY 2022 @ 772.00 SL 778.00 TGT 765.00-762.00.MCX
SELL ZINC MAY 2022 @ 334.00 SL 338.00 TGT 328.00-325.00.MCX
SELL ALUMINIUM MAY 2022 @ 246.00 SL 249.00 TGT 241.00-238.00.MCX
SELL LEAD MAY 2022 @ 185.50 SL 187.00 TGT 183.50-181.50.MCX
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Gold Hallmarked Jewelery Rate per 10 gm in Chandigarh 5 May 2022 (Gold Price Today)
23 carat gold price – Rs 51300
22 carat gold price – Rs 50300
20 carat gold price – Rs 45500
18 carat gold price – Rs 41200
14 carat gold price – Rs 32900
Sone ki Ginni ka Bhav – Rs 41500/ per 8 grams
Silver Price (Silver Price 999.9) – Rs 66100/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.
