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 6 June 2023, Tuesday. 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.
Comex gold and silver plunged in the early trading session due to strength in the dollar index but downbeat U.S. ISM services PMI data supported both precious metals at lower levels. Gold prices holds $1950 per troy ounce in the international markets. The U.S. ISM services PMI fell to 50.3 in May month down from April months reading of 51.9 and markets expectations of a reading of 52.6. After downbeat US ISM services PMI data the dollar index also showed profit taking from their highs and supported gold and silver prices. Comex gold prices also recovered after an uptick in crude oil prices.
Manoj Kumar Jain, Director, Prithvi Finmart 5 June 2023 Comex Gold and Silver Update
‘Expect gold and silver prices to remain volatile in today’s session and could hold its support level of $1950 and $23.20 per troy ounce levels respectively. Gold has support at $1964-1950, while resistance at $1984-2000 per troy ounce. Silver has support at $23.40-23.00, while resistance is at $23.92-24.20 per troy ounce.’
Comex Gold and Silver Update by Nirmal Bang Securities 6 June 2023
‘Gold prices are supported at lower levels like 1950-60 and likely to bounce back to 2000 we are recommending to go long for a pullback till 2000-2010. Silver are supportive at lower levels of 23.60-50 and can bounce till 24.20-45. We are recommending to go long between 23.70-80 for the target of 24.20-30’
Ravindra V.Rao, CMT, EPAT, VP-Head Commodity Research, Kotak Securities Ltd
‘Rising tensions between China and the US is also supporting the safe haven metal. Meanwhile, ECB President Christine Lagarde on Monday acknowledged “signs of moderation” in core inflation in the euro zone but reaffirmed it was too early to call a peak in that key gauge of price growth, increasing expectations for more interest rate increases from the ECB. Recent signs of ease in wage inflation, forecasts for an ease in US CPI in May and prospects of a Fed pause in June might cap dollar gains and aid gold prices.’
London Gold, Gold LBMA Spot Geojit Daily Report 6 June 2023
Gold LBMA Spot: Inability to move past $1920 there are chances of a recovery upticks. A direct drop of which would continue liquidation pressure.
Silver LBMA Spot: Consistent trades above $24.20 would lift prices higher. Else, choppy with corrective selling pressure is on the cards.
Data to Watch Today 6 June 2023 (India Time)
Today No Data To Watch
Gold Ratio
Gold Silver Ratio: 83.53
Gold Crude Ratio: 27.36
Gold London: Gold and Silver Fix
Gold London AM Fix($/oz): 1942.50
Gold London PM Fix($/oz): 1959.65
Silver London Fix($/oz): 23.48
ETF Holdings as on Previous Close
SPDR Gold: 938.11 (Long), 00 (Short)
iShares Silver: 14,519.41 (Long), -6.38 (Short)
Weekly CFTC Positions
Gold($/oz): 142504 (Long),34651 (Short), 34651(Net)
Silver: 40262 (Long), 29984 (Short), 10278 (Net)
Nirmal Bang Securities Outlook For 6 June 2023
‘Gold and silver prices are trading flat on international bourses. We expect prices to trade higher for the day as weak manufacturing data from the US will support bullions.’
Daily Commodity Calls Nirmal Bang Securities 5 June 2023
BUY GOLD AUG (MCX) AT 59700 SL 59500 TARGET 60000/60200
BUY SILVER JULY (MCX) AT 71700 SL 71100 TARGET 72500/73000
Anuj Gupta, VP, IIFL Sec, Daily Commodity Calls 6 June 2023
BUY MCX CRUDEOIL JUNE AT 5900 SL 5750 TARGET 6150
BUY MCX GOLD AUG AT 59500 SL 59200 SL 60100
BUY MCX SILVER JULY AT 71200 SL 70500 TARGET 72800
BUY MCX COPPER JUNE AT 717 SL 711 TARGET 726
BUY NIFTY AT 18600 SL 18450 TARGET 18800
BUY BANKNIFTY AT 43700 SL SL 43400 TARGET 44500
BUY SENSEX AT 62400 SL 62000 TARGET 63200
Geojit Intraday Technical Outlook Gold and Silver 6 June 2023
MCX Gold: As long as Rs 59000 remains hold, expect recovery rallies. Consistent trades below the same is a signa of downside reversal.
MCX Silver: While prices stay above Rs 70000 recovery upticks expected. A direct dip of which would extend liquidation pressure.
Manoj Jain, Director, Prithvi Finmart
At MCX, gold is having support at 59600-59330 and resistance at 60060-60280 while silver is having support at 71350-70800 and resistance at 72250-72800. We suggest buying gold on dips around 59600 with a stop loss of 59330 for the target of 60060 and also suggest buying silver around 71400 with a stp loss of 70850 for the target of 72500.
Kedia Commodity Daily morning calls as on Friday, June 6, 2023
BUY GOLD AUG 2023 at 59650 SL 59450 TGT 60000-60200.MCX
BUY SILVER JUL 2023 at 71400 SL 70800 TGT 72300-72800.MCX
SELL CRUDEOIL JUN 2023 at 6050 SL 6150 TGT 5950-5850.MCX
BUY NAT GAS JUN 2023 at 184.00 SL 178.00 TGT 190.00-194.00.MCX
BUY COPPER JUN 2023 at 717.00 SL 713.00 TGT 722.00-726.00.MCX
BUY ZINC JUN 2023 at 206.00 SL 203.00 TGT 209.00-212.00.MCX
BUY ALUMINIUM JUN 2023 at 205.00 SL 203.00 TGT 208.00-210.00.MCX
BUY LEAD JUN 2023 at 181.00 SL 180.00 TGT 182.00-183.00.MCX
Gold Price Today in Carats, fineness and purity 6June 2023:
24 carat gold price today (Purity 999)- Rs 61900/10 Gram
22 carat gold price today (Purity 916) – Rs 57100/10 Gram
18 carat gold price today (Purity 750) – Rs 46950/10 Gram
14 carat gold price today (Purity 585) – Rs 36900/10 Gram
Silver Price Today (Purity 999) – Rs 74600 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.
