Gold Rate today | What is Silver price | Gold | Silver | MCX Gold price | Comex Group | Comex Group Gold Price | London Spot: Gold Price, Silver price update for 15 June 2023, Thursday. Know Views of India’s Big commodity experts like Manoj Jain, Prithvi Finmart, Sugandha Sachdeva Acme Investment Advisors, Ajay Kedia, Kedia Commodity and Anuj Gupta of IIFL Fin Sec, Nirmal Bang Securities, Kotak Securities, Motilal Oswal Financial Services and Geojit on Comex 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.
The U.S. Federal Reserve left interest rates unchanged at 5.25% for the first time since start of the interest rates hike cycle from 2022 but U.S. Fed increased its forecast for the benchmark interest rates from 5.1% to 5.6% by end of this year. An increase in the benchmark rates may cause two more interest rate hikes in this year of at-least 25 basis points each and could push gold and silver prices lower. The U.S. economic data released on Wednesday was supporting for precious metals. However, uptick in the U.S. bond yields and strength in the rupee restricted gains.
Manoj Kumar Jain, Director, Prithvi Finmart 15 June 2023 Comex Gold and Silver Update
‘Expect gold and silver could test their key support levels of $1934 per troy ounce and $23.50 per troy ounce respectively in today’s session after FOMC meeting outcomes. Gold has support at $1955-1934, while resistance at $1984-1996 per troy ounce. Silver has support at $23.70-23.50, while resistance is at $24.35-24.60 per troy ounce.’
Spot Gold and Silver Update by Nirmal Bang Securities 14 June 2023
‘Gold prices are supported at lower levels like 1940-44 and likely to test 1970-90. Recommending to buy on dips around 1955-50 for a target of 1970-80.We recommend buying around 23.50-40 for a target of 24.60-80.’
Augmont
‘Gold prices have experienced a significant breakdown as they breached the crucial support level of $1950. This decline was triggered by conflicting signals from the Federal Reserve, which decided to keep interest rates unchanged while also issuing a warning that at least two more rate hikes are likely in the near future. Consequently, gold has broken an important upward trendline support at $1950 (~Rs 59000), indicating a bearish signal and potentially pushing prices lower towards $1935 (~Rs 58500) and $1905 (~Rs 58000) in the short-term. Similarly, silver prices continue to trade below $24.50, with the next support levels expected at $23 (~Rs 70500) and $22.70 (~Rs 70000).’
Ravindra V.Rao, CMT, EPAT, VP-Head Commodity Research, Kotak Securities Ltd
‘Pausing the fed funds rate along with projections for higher terminal rates gives the Fed flexibility to hike if data comes hot and at the same time cut the rates if data softens. After the FOMC meeting, interest rate futures are not expecting any Fed rate cuts this year. Amid prospects of higher rates and pushing back against cuts, gold prices might witness some pressure in the near term.’
London Gold, Gold LBMA Spot Geojit Daily Report 15 June 2023
Gold LBMA Spot: Intraday bias mostly on the downside, it needed to break the stiff support of $1930 for major liquidation pressure.
Silver LBMA Spot:If unable to move past $24.40 expect weak bias to continue the day. Anyhow major support is placed at $22.50.
Ajay Kedia Director Kedia Commodity Spot Gold Levels
Spot GOLD – $1940.76
Resistance: 1952.8-1964.8-1971-1977.9
Support: 1934.6-1928.4-1916.3-1909.4
Spot SILVER – $23.92
Resistance: 24.1-24.28-24.49-24.66
Support: 23.7-23.49-23.3-23.13
Rahul Kalantri, VP Commodities, Mehta Equities
‘Gold has support at $1926-1912 while resistance is at $1948-1960. Silver has support at $23.30-23.15, while resistance is at $23.60-23.72. In INR terms gold has support at Rs 59,040-58,820, while resistance is at Rs59,420, 59,590. Silver has support at Rs71,580-70,820, while resistance is at Rs72,940–73,420.’
Motilal Oswal Financial Services (MOFSL) Commodity Report 15 June 2023
Data to Watch Today 15 June 2023 (India Time)
15th June 06:00 PM United States Core Retail Sales (Impact on gold, silver prices-High)
15th June 06:00 PM United States Empire State Manufacturing Index (Impact on gold, silver prices-High)
15th June 06:00 PM United States Retail Sales m/m (Impact on gold, silver prices-High)
15th June 06:00 PM United States Unemployment Claims (Impact on gold, silver prices-High)
15th June 06:00 PM United States Philly Fed Manufacturing Index – (Impact on gold, silver prices-Medium)
15th June 06:45 PM United States Industrial Production (Impact on gold, silver prices-Medium)
Gold Ratio
Gold Silver Ratio: 81.68
Gold Crude Ratio: 28.84
Gold London: Gold and Silver Fix
Gold London AM Fix($/oz): 1951.90
Gold London PM Fix($/oz): 1955.80
Silver London Fix($/oz): 23.83
ETF Holdings as on Previous Close
SPDR Gold: 931.43 (Long), -2.89 (Short)
iShares Silver:14,463.73 (Long), -47.12 (Short)
Weekly CFTC Positions
Gold($/oz): 141286 (Long), 27121 (Short),114165 (Net)
Silver: 38687 (Long), 27187 (Short), 11500 (Net)
COMEX Futures Watch (Last Close)
Gold($/oz) Aug 23: 1968.90 Dollar (Close),10.30 Dollar (Change)
Silver($/oz) JUL 23: 24.11 Dollar (Close), 0.28 (Change)
Nirmal Bang Securities Outlook For 15 June 2023
‘Gold and silver prices are lower on international bourses as the Federal Reserve paused interest-rate increases but signaled it wasn’t done with tightening just yet. We expect precious metals to trade lower for the day as higher interest rates are generally negative for the precious metal, which doesn’t offer interest.’
Daily Commodity Calls Nirmal Bang Securities 15 June 2023
SELL GOLD AUG (MCX) AT 59100 SL 59400 TARGET 58700/58500
SELL SILVER JULY (MCX) AT 71700 SL 72300 TARGET 71000/70500
Anuj Gupta, VP, IIFL Sec, Daily Commodity Calls 15 June 2023
SELL MCX CRUDEOIL JUNE AT 5700 SL 5850 TARGET 5500
SELL MCX GOLD AUG AT 59500 SL 59850 SL 58900
SELL MCX SILVER JULY AT 72800 SL 73450 TARGET 71500
BUY MCX COPPER JUNE AT 727 SL 722 TARGET 736
BUY NIFTY AT 18650 SL 18550 TARGET 18880
BUY BANKNIFTY AT 43750 SL 43400 TARGET 44200.
BUY SENSEX AT 62800 SL 62400 TARGET 63500
SELL USDINR AT 82.20 SL 82.45 TARGET 81.80
Geojit Intraday Technical Outlook Gold and Silver 15 June 2023
MCX Gold: While prices stay below Rs 59200 liquidation pressure may extend the day. A direct turn above Rs 60000 is a sign of reversal.
MCX Silver: Inability to move past Rs 74000 expect selling pressure to continue the day. Consistent trades above the same would lift prices higher.
Manoj Jain, Director, Prithvi Finmart
‘At MCX, gold is having support at 59050-58770 and resistance at 59500-59720 while silver is having support at 72200-71450 and resistance at 73100-73550. We suggest selling gold below 59220 with a stop loss of 59450 for the target of 58850 and also suggest selling silver below 72500 with a stop loss of 73100 for the target of 71400.’
Colin Shah, MD, Kama Jewelry
‘Gold prices have hit a 3-month low internationally and a 2-month low domestically. Despite the fall, gold has posted more than 7% returns YTD in INR terms. Moving forward, we expect gold prices to be stable, a recession – mild or strong in the US may lead to US Fed softening its stance, thereby pushing up the gold prices. Gold prices are likely to find support at $1,930 (Internationally) and INR 58,500.’
Kedia Commodity MCX Gold Levels
MCXBULLDEX – 16051
Resistance: 16083-16115-16152
Support: 16014-15977-15945
GOLD – 59298
Resistance: 59460-59621-59777
Support: 59143-58987-58826
SILVER – 72651
Resistance: 72880-73110-73440
Support: 72320-71990-71760
Kedia Commodity Daily morning calls as on Friday, June 15, 2023
BUY GOLD AUG 2023 at 59000 SL 58750 TGT 59300-59500.MCX
BUY SILVER JUL 2023 at 71500 SL 70800 TGT 72300-72800.MCX
BUY CRUDEOIL JUN 2023 at 5600 SL 5500 TGT 5700-5800.MCX
SELL NAT GAS JUN 2023 at 196.00 SL 200.00 TGT 190.00-187.00.MCX
SELL COPPER JUN 2023 at 732.00 SL 736.00 TGT 727.00-724.00.MCX
SELL ZINC JUN 2023 at 222.00 SL 224.00 TGT 219.00-217.00.MCX
SELL ALUMINIUM JUN 2023 at 206.00 SL 207.50 TGT 204.00-202.00.MCX
SELL LEAD JUN 2023 at 184.00 SL 185.00 TGT 183.00-182.00.MCX
Gold Price Today in Carats, fineness and Purity:
24 carat gold price today (Purity 999)- Rs 60750/10 Gram
22 carat gold price today (Purity 916) – Rs 56250/10 Gram
18 carat gold price today (Purity 750) – Rs 46200/10 Gram
14 carat gold price today (Purity 585) – Rs 36300/10 Gram
Silver Price Today (Purity 999) – Rs 73700 per kg
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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 jewellers add GST, making charges and hallmarking charges to the gold price. Many jewellers 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: The information presented in this article is i intended for informational purposes only and reflects the views of the expert. Prior to making any investment decisions, it is recommended that you seek the advice of a financial advisor. The individuals affiliated with Gold Price Today do not engage in the personal buying, selling, or trading of gold/silver. We cannot be held liable for any gains or losses incurred.
