Gold Rate today | What is Silver price | Gold | Silver | MCX Gold price | Comex Group: Gold Price, Silver price update for 1 May, Monday. Know Views of India’s Big commodity experts like Manoj Jain, Prithvi Finmart, Market and Commodity Expert Sugandha Sachdeva, Ajay Kedia, Kedia Commodity and Anuj Gupta of IIFL Fin 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 Group and MCX.
Manoj Jain, Director in Prithvi Finmart says ”gold and silver showed very high price volatility and slipped from their highs last week. Downbeat U.S. first quarter GDP data and hotter than expected core PCE price index data supported the dollar index at lower levels and trigged profit taking in gold and silver. Hotter than expected U.S. inflation data could prompt the U.S. Federal Reserve in its upcoming monetary policy meetings for raising interest rates and also maintain a hawkish tone to control inflation.”
MCX is closed for trading today in observance of Maharashtra Day, but the Comex group is continuing to operate normally. The Federal Reserve is slated to convene on May 2nd and 3rd, with the results of the meeting scheduled to be revealed on May 3rd.
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According to Augmont Weekly Outlook ”a warning sign for the economy and financial markets is the fact that the U.S. money supply is declining at its fastest rate since the 1930s. US Money Supply (M2) growth has turned into a negative zone on a YoY basis with a level of -4% in March 2023. This is largely a result of the Federal Reserve’s quantitative easing programme, declining bank deposits, weak credit demand and supply, and the reversal of the liquidity created by the massive post-pandemic fiscal and monetary stimulus.”
Weekly Outlook on gold and silver by Augmont says” we are going to witness a bullish environment for safe-haven assets Gold and Silver in the coming months. Moreover, there are also other Two themes pushing Gold and Silver: De-dollarization & Recession, which can lead Gold and Silver prices to rise 20% in FY 2023-24.
Jain Said ”however, global growth concerns supporting safe-haven demand for precious metals. Chinese demand also increased after easing covid-19 restrictions and supportive for precious metals.”
Jain expect ”gold and silver prices to remain volatile this week ahead of the U.S. Fed monetary policy meetings and Comex gold could face steep resistance around $1930 per troy ounce and Comex silver could also face resistance around $25.80 per troy ounce.
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According to Manoj Jain ” Comex Group gold has support at $1984-1972, while resistance at $2014-2030 per troy ounce. Silver has support at $25.00-24.65, while resistance is at $25.55-25.80 per troy ounce. At MCX, gold is having support at 59660-59440 and resistance at 60060-60380 while silver is having support at 74800-74250 and resistance at 75950-76650.” He suggest selling gold on rise around 60100 with a stop loss of 60380 for the target of 59700.”
Gold Hallmarked Jewelery Rate per 10 gm in Chandigarh 1 May 2023 (Gold Price Today)
24 carat gold price – Rs 61800/10 gm
22 carat gold price – Rs 57100
18 carat gold price – Rs 46900
14 carat gold price – Rs 36900
Sone ki Ginni ka Bhav – Rs 47200/ per 8 grams
Silver Price – Rs 76400 Per KG
Gold Rate Today in Dehradun (1 May 2023) (Sarafa Mandal Dehradun)
24 carat gold price (24 carat gold price) – Rs 61900 per 10 grams
23 carat gold price (958 Hallmark gold price) – 59300
22 carat gold price (916 Hallmark gold price) – 56600
20 carat gold price (833 Hallmark gold price) – 51560
18 carat gold price (750 Hallmark gold price) – 47040
14 carat gold price (583 Hallmark gold price) – 37140
Price of gold gin (Sone ki Ginni ka Bhav 8 gram 916 Hallmark) – 47820
Silver Price – Rs 76000 per kg
Silver Coin Hallmarked – Rs 880 per piece
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 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 in gold/silver.