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 14 June 2023, Wednesday. 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. US Federal Reserve Meeting Outcome will come today.
Comex gold and silver showed roller coaster moves on Tuesday and extended its fall despite U.S. CPI inflation came as per market expectations. The U.S. CPI grew 4.0% in the month of May on yearly basis against market expectations of 4.1% and previous months reading of 4.9%. Core CPI also remains at 0.4% as per market expectations but market participants are cautious ahead of the FED meeting outcomes and alert from any negative surprises from the FOMC meeting outcomes. However, the dollar index slipped below 103 marks and crude oil prices also recovered from their lows and supported gold and silver prices at lower levels.
Manoj Kumar Jain, Director, Prithvi Finmart 14 June 2023 Comex Gold and Silver Update
‘We expect gold and silver could hold their key support levels of $1934 per troy ounce and $23.50 per troy ounce respectively this week and prices remain highly volatile due to FOMC meeting outcomes and volatility in the dollar index. Gold has support at $1945-1934, while resistance at $1970-1984 per troy ounce. Silver has support at $23.55-23.35, while resistance is at $24.10-24.35 per troy ounce.
Comex 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. We are 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.’
Ravindra V.Rao, CMT, EPAT, VP-Head Commodity Research, Kotak Securities Ltd
‘Expectations of a quarter point rate hike by the year end has been pushed back, weighing down on the bullions. FOMC policy decision, press conference and projections will be in focus for the day. Fed is expected to keep the rates unchanged, however, might be hawkish amid the backdrop of elevated core CPI. SEP might show another quarter point hike in July and zero rate cuts for 2023, which might weigh down on gold prices.’
London Gold, Gold LBMA Spot Geojit Daily Report 14 June 2023
Gold LBMA Spot: Congested trade inside $1990-1930 would continue initially and breaking any of the sides would trigger fresh directional moves.
Silver LBMA Spot: Recovery upticks expect initially. However, break above $24.50 is needed to extend the momentum
Ajay Kedia Director Kedia Commodity Comex Gold Levels
GOLD – 1943.44 Dollar
Resistance: 1959.6-1975.7-1985.4-1992.3 Dollar
Support: 1933.8-1924.2-1908-1901.1 Dollar
SILVER – 23.67 Dollar
Resistance: 24.06-24.45-24.67-24.84 Dollar
Support: 23.45-23.24-22.85-22.68 Dollar
Rahul Kalantri, VP Commodities, Mehta Equities
‘Gold has support at $1936-1928 while resistance is at $1957-1965. Silver has support at $23.70-23.55, while resistance is at $24.10-24.25. In INR terms gold has support at Rs 59,050-58,870, while resistance is at Rs59,450, 59,640. Silver has support at Rs71,480-70,920, while resistance is at Rs72,640–73,120.’
Motilal Oswal Financial Services (MOFSL) Commodity Report 14 June 2023
Data to Watch Today 14 June 2023 (India Time)
14th June 06:00 PM United States Core PPI (Impact on gold and silver prices- High)
14th June 06:00 PM United States PPI m/m (Impact on gold and silver prices- High)
14th June 11:30 PM United States Federal Funds Rate (Impact on gold and silver prices- High)
Gold Ratio
Gold Silver Ratio: 82.22
Gold Crude Ratio: 28.21
Gold London: Gold and Silver Fix
Gold London AM Fix($/oz): 1964
Gold London PM Fix($/oz): 1954.40
Silver London Fix($/oz): 24.19
ETF Holdings as on Previous Close
SPDR Gold: 931.76 (Long), -2.89 (Short)
iShares Silver: 14,486.58 (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: 1958.60 Dollar (Close), -11.10 Dollar (Change)
Silver($/oz) JUL 23: 23.82 Dollar (Close), -0.24 (Change)
Nirmal Bang Securities Outlook For 14 June 2023
‘Gold and silver prices are higher on international bourses ahead of the Federal Reserve meeting at which policymakers are expected to pause interest-rate increases to take stock of banking sector strains. We expect precious metals prices to trade sideways to lower for the day.’
Daily Commodity Calls Nirmal Bang Securities 14 June 2023
SELL GOLD AUG (MCX) AT 59350 SL 59600 TARGET 59000/58800
SELL SILVER JULY (MCX) AT 72500 SL 73200 TARGET 71850/71500
Anuj Gupta, VP, IIFL Sec, Daily Commodity Calls 14 June 2023
SELL MCX CRUDEOIL JUNE AT 5700, SL 5850, TARGET 5400
SELL MCX GOLD AUG AT 59500, SL 59850 SL 58900
SELL MCX SILVER JULY AT 72700, SL 72450, TARGET 71500
BUY MCX COPPER JUNE AT 723, SL 717, TARGET 735
BUY NIFTY AT 18650, SL 18550, TARGET 18880
BUY BANKNIFTY AT 43950, SL 43700, TARGET 44400.
Geojit Intraday Technical Outlook Gold and Silver 14 June 2023
MCX Gold: Stiff support is placed at Rs 59200 which if broken
would continue liquidation pressure. Else, mild recovery is possible the day.
MCX Silver: Inability to move past Rs 74000 there are chances of corrective selling pressure. Consistent trades above the same would lift prices higher.
Manoj Jain, Director, Prithvi Finmart
‘At MCX, gold is having support at 59000-58770 and resistance at 59480-59700 while silver is having support at 71650-71100 and resistance at 72700-73200. We suggest buying silver on dips around 71600 with a stop loss of 70990 for the target of 72700.’
Kedia Commodity MCX Gold Levels
MCXBULLDEX – Rs 16015
Resistance: Rs 16159-16303-16380
Support: Rs 15938-15861-15717
GOLD – Rs 59218
Resistance: Rs 59674-60130-60375
Support: Rs 58973-58728-58272
SILVER – Rs 72094
Resistance: Rs 73311-74529-75168
Support: Rs 71454-70815-69597
Kedia Commodity Daily morning calls as on Friday, June 14, 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 5650, SL 5550, TGT 5750-5850.MCX
BUY NAT GAS JUN 2023 at 187.00, SL 182.00, TGT 193.00-197.00.MCX
BUY COPPER JUN 2023 at 725.00, SL 721.00, TGT 730.00-734.00.MCX
BUY ZINC JUN 2023 at 212.00, SL 209.00, TGT 215.00-218.00.MCX
BUY ALUMINIUM JUN 2023 at 203.00, SL 201.00, TGT 206.00-208.00.MCX
BUY LEAD JUN 2023 at 182.00, SL 181.00, TGT 183.00-184.00.MCX
Gold Price Today in Carats, fineness and Purity:
24 carat gold price today (Purity 999)- Rs 59500/10 Gram
22 carat gold price today (Purity 916) – Rs 57000/10 Gram
18 carat gold price today (Purity 750) – Rs 46900/10 Gram
14 carat gold price today (Purity 585) – Rs 36800/10 Gram
Silver Price Today (Purity 999) – Rs 75500 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.
