Gold price today, Silver price, COMEX, MCX Gold price: Gold, Silver price update for 3 June 2022, Friday. Know Views of India’s Big commodity experts like Manoj Jain, Prithvi Finmart 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.
Gold and silver gained amid disappointing ADP non-farm employment data and weakness in the dollar index. Both precious metals were settled on a positive note in the international markets. Gold August futures contract were settled at $1871.40 per troy ounce with a gain of 1.23% and silver July futures contract were settled at $22.28 per troy ounce with a gain of 2.22%. Both precious metals were also settled on a positive note in the domestic markets.
Gold and silver extended its gain on Thursday and crossed its resistance levels of $1850 per troy ounce and $22 per troy ounce respectively in the international markets. Gold and silver gained after disappointing U.S. ADP non-farm employment data released on Thursday. ADP said that 1,28,000 jobs were created in the month of May 2022, against expected job growth of 3,28,000 and April month’s job growth of 4,28,000.
Anuj Gupta, VP of Commodity and Currency in IIFL Fin says Comex gold may test $1900 levels and silver may test $23 levels very soon.
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The U.S. ADP job data missed the expectations and supported both precious metals. The dollar index also plunged after disappointing ADP non-farm data and slipped below 102 marks once again. Weakness in the dollar index also supported both precious metals in the international markets.
Manoj Jain, Director of Prithvi Finmart says both precious metals to remain volatile in today’s session ahead of the U.S. job reports and continue to hold its important support levels. Gold is having support at $1858-1845 per troy ounce and resistance at $1884-1900 per troy ounce while silver is having support at $22.00-21.66 per troy ounce and resistance at $22.55-22.80 per troy ounce.
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Jain said at MCX, gold is having support at 51050-50900 and resistance at 51440-51700 while silver is having support at 61800-61220 and resistance at 62660-63100. We suggest buying silver on dips around 62000 with a stop loss of 61440 on a daily closing basis for the target of 63100.
Kedia Advisory, Daily Commodity Calls 3 June 2022
BUY GOLD AUG 2022 @ 51100 SL 50900 TGT 51380-51500.MCX
BUY SILVER JUL 2022 @ 61500 SL 60800 TGT 62400-62800.MCX
SELL CRUDEOIL JUN 2022 @ 9100 SL 9250 TGT 8850-8750.MCX
SELL NAT GAS JUN 2022 @ 685.00 SL 710.00 TGT 645.00-620.00.MCX
BUY COPPER JUN 2022 @ 802.00 SL 795.00 TGT 812.00-820.00.MCX
BUY ZINC JUN 2022 @ 332.00 SL 327.00 TGT 340.00-345.00.MCX
BUY ALUMINIUM JUN 2022 @ 231.00 SL 227.00 TGT 238.00-242.00.MCX
BUY LEAD JUN 2022 @ 183.00 SL 180.00 TGT 188.00-190.00.MCX
Anuj Gupta, IIFL Sec, Daily Commodity Calls 3 June 2022
BUY Gold June at 51100, SL 50850, TARGET 51600
BUY Silver July at 62000, SL 61550, TARGET 63000
BUY MCX COPPER June AT 801, SL 794, TARGET 810
Buy MCX Crude Oil june at 8950, SL 8750, TARGET 9300
Sell Nse USDINR June @ 77.90, SL 78.20, TARGET 77.30
Gold Hallmarked Jewelery Rate per 10 gm in Chandigarh 2 June 2022 (Gold Price Today)
23 carat gold price – Rs 50400
22 carat gold price – Rs 49500
20 carat gold price – Rs 44600
18 carat gold price – Rs 40400
14 carat gold price – Rs 32000
Sone ki Ginni ka Bhav – Rs 40700/ per 8 grams
Silver Price (Silver Price 999.9) – Rs 63900/per kg
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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.