Gold Rate today | What is Silver price | Gold | Silver | MCX Gold price | Comex Group | Comex Group Gold Price | London Spot | IBJA Gold Price | LBMA Gold: Gold Price, Silver price update for 6 August 2024, Tuesday. Know Views of India’s Big commodity experts like Manoj Jain, Prithvi Finmart, Ajay Kedia, Kedia Commodity and Nirmal Bang Securities, Motilal Oswal Financial Services 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, MCX and IBJA Gold silver price.
Gold and silver experienced significant volatility and initial gains in early trading due to a weaker dollar index and declining U.S. bond yields. However, a broad-based sell-off in global financial markets led to a sharp decline in these precious metals. The Japanese Yen’s strong performance against the U.S. dollar further intensified the sell-off in global financial assets, resulting in widespread selling in international markets. Despite this, U.S. Federal Reserve member Goolsbee reassured that the Fed would take necessary measures to safeguard the economy if conditions worsen. Overall, the fundamentals for precious metals remain strong, with geopolitical tensions and ongoing global uncertainties likely to support prices at lower levels.
Manoj Kumar Jain, Director, Prithvi Finmart
”Expect gold and silver prices to remain volatile this week amid volatility in the dollar index and geo-political tensions. Gold prices could hold $2,388 per troy ounce and silver could hold $26.40 per troy on a weekly closing basis. Gold has support at $2422-2400, while resistance at $2458-2480 per troy ounce and silver has support at $26.84-26.40, while resistance is at $27.64-28.00 per troy ounce in today’s session. At mcx, gold is having support at 69000-68650 and resistance at 69640-70000 while silver is having support at 78800-78000 and resistance at 80200-81000. We suggest traders stay cautious due to very high market volatilities and investors could accumulate in a staggered way on every dips.”
Geojit London Gold Spot Technical Commentary 6 August 2024 (LBMA)
Gold LBMA Spot: Choppy with mild recovery bias expected the day. Anyhow stiff support is placed at $2380
Silver LBMA Spot:It is required to trade above $28.50 to trigger major rallies. Else, prices remains choppy.
MCX Gold KG Oct: Upside recovery expected as long as Rs 69500 hold downside.
Silver KG Sep: Choppy with recovery rallies are on the cards for the day
Data to Watch Today 6 August 2024 (India Time)
06:00 PM United States Trade Balance
Nirmal Bang Securities Gold Fundamental Outlook For 6 August 2024
Gold and silver prices are trading flat today on the international bourses. We expect gold and silver prices to trade range-bound to slightly higher for the day, as gold prices are steadied after being pulled into Monday’s global rout, when it slumped as some traders cut holdings to cover potential margin calls.
Ajay Kedia, Kedia Commodity
GOLD
Resistance: 2455.6-2504.4-2515.6
Support: 2361.2-2315.6-2304.4
SILVER
Resistance: 28.45-29.64-29.86
Support: 26.29-25.32-25.1
MCX GOLD
Resistance: 70420-71530-72550
Support: 68290-67270-66160
MCX SILVER
Resistance: 82580-85560-87715
Support: 77445-75290-72310
IBJA Gold Price Today in Carats, fineness and Purity:
24 carat gold price today (Purity 999)- Rs 69117/10 Gram
24 carat gold price today (Purity 995)- Rs 68840/10 Gram
22 carat gold price today (Purity 916) – Rs 63311/10 Gram
18 carat gold price today (Purity 750) – Rs 51838/10 Gram
14 carat gold price today (Purity 585) – Rs 40433/10 Gram
Silver Price Today (Purity 999) – Rs 78950 per kg
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Note: The prices listed on Gold Price Today are sourced from various jewellers and bullion associations across the country. The price of gold and silver in your city may vary, as local jewellers add GST, making charges, and hallmarking fees to the base price. Additionally, many jewellers charge a premium for their brand, leading to differences in gold and silver prices at different shops.
Disclaimer: The information in this article is intended for informational purposes only and reflects the views of the expert. Before making any investment decisions, it is recommended to seek the advice of a financial advisor. The individuals associated with Gold Price Today do not engage in the personal buying, selling, or trading of gold or silver. We cannot be held liable for any gains or losses incurred.
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