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 25 July 2023, Tuesday. Know Views of India’s Big commodity experts like Manoj Jain, Prithvi Finmart, Ajay Kedia, Kedia Commodity and Anuj Gupta of IIFL Fin Sec, Nirmal Bang Securities, Kotak Securities, Motilal Oswal Financial Services, SMC Global Securities 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. Federal Reserve Meeting outcome will come today around 11:30PM according to India time.
Comex gold and silver showed very high volatility ahead of the FOMC meeting outcomes but holds their key support levels. The Federal Reserve Open Market Committee started its two days meeting on Tuesday and will come out with outcomes later today. Market is expecting 25 basis points rate hikes in this meeting but future guidance of the Fed and comments from the Fed Chairman will be the key direction for the market. On data point the U.S. consumer confidence data was better than expected and at highest levels since July 2021. The U.S. consumer confidence rose to 117 against expected reading of 112 and well above from the June month reading of 110.1. Despite upbeat U.S. consumer confidence data, gold and silver recovered from their lows amid expectations of dovish comments from the Fed Chairman in its policy meetings.
Manoj Kumar Jain, Director, Prithvi Finmart
We expect gold and silver prices to remain volatile in today’s session ahead of the FOMC meeting outcomes and gold could hold its support level of $1934 per troy ounce and silver could also hold $24.00 per troy ounce levels. Gold has support at $1955-1945, while resistance at $1974-1988 per troy ounce. Silver has support at $24.55-24.20, while resistance is at $25.10-25.45 per troy ounce.
Geojit Intraday Technical Outlook London Gold Spot Market
Gold LBMA Spot: Prices remain rangebound inside $1940-1990 levels with mild negative bias. Breaking any of the sides would suggest fresh short term direction.
Silver LBMA Spot: Inability to break above $25.20 likely to see corrective selling pressure. Else, recovery upticks are on the cards.
Ravindra V.Rao, CMT, CFTe, EPATian, VP-Head Commodity Research, Kotak Securities
Bullions might come under pressure for the day. Having said that, any signs of dovishness from Fed might boost the yellow metal post the FOMC meeting. Meanwhile, China’s push to ease its dependency on growth through unsustainable manufacturing and construction pared bets that the government will pass significant stimulus measures despite increasing evidence of a slow economic recovery for the world’s major consumer, limiting the downside. We might see some pressure in bullions ahead of the FOMC meeting, as investors might stay cautious amid rising bets for a September rate hike.
Data To Watch Today 26 July 2023
26th July 7:30 PM United States New Home Sales
26thJuly 11:30 PM United States FOMC Statement
26th July 11:30 PM United States Federal Funds Rate
Nirmal Bang Securities Gold Fundamental Outlook For 26 July 2023
Gold and silver prices are trading flat on international bourses. We expect gold to trade sideways to lower for the day as the Federal Reserve and the European Central Bank are set to increase interest rates and to signal whether more hikes are likely. gold prices have also witnessed a temporary pause in the selling pressure, with a notable support level emerging around 59000. As a result, it appears that the yellow metal is poised for a potential rebound, with expectations for it to advance towards the range of 59500-60000 during the course of the day. After experiencing a notable decline over the past three days, we hold the view that a rebound is likely in the near future, value towards the range of 75500-76100 levels in the upcoming trading session.
Ajay Kedia, Director, Kedia Commodity
MCX Gold expected range for the day is 58800 – 59600
Gold$ expected range for the day is 1948$-1980$
Geojit MCX Technical Commentary
Gold KG Aug:Breaking any of the sides of Rs 60000-58200 levels would set fresh directional move. Inability to break the same prices remain held choppy.
Silver KG Sep:Break above the resistance of Rs 77000 would continue rallies. Else, weak momentum is likely in the cards.
Anuj Gupta, VP, IIFL Sec
BUY GOLD AUG AT 59000 SL 58650 TARGET 59600
Buy MCX SILVER SEPT AT 73500 SL 72700 TARGET 74500
BUY MCX CRUDEOIL AUG AT 6350 SL 6150 TARGET 6600
BUY MCX COPPER AUG AT 734 SL 729 TARGET 745
BUY NSE NIFTY AT 19650 SL 19500 TARGET 19900
BUY BANKNIFTY AT 45700 SL 45400 TARGET 46400
BUY SENSEX AT 66000 SL 65700 TARGET 66700
Manoj Kumar Jain, Director, Prithvi Finmart
At mcx, gold is having support at 59000-58770 and resistance at 59400-59660 while silver is having support at 74200-73650 and resistance at 75100-75750. We suggest buying gold on dips around 59000 with a stop loss of 58770 for the target of 59500 and also suggest buying silver on dips around 74200 with a stop loss of 73650 for the target of 75500.
Gold Price Today in Carats, fineness and Purity:
24 carat gold price today (Purity 999)- Rs 61100/10 Gram
22 carat gold price today (Purity 916) – Rs 56400/10 Gram
18 carat gold price today (Purity 750) – Rs 46400/10 Gram
14 carat gold price today (Purity 585) – Rs 36400/10 Gram
Silver Price Today (Purity 999) – Rs 76800 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.