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 2 August 2024, Friday. 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 price volatility, rising in the early trading session but failing to sustain higher levels. Heightened tensions in the Middle East, following airstrikes in Iran and Lebanon that killed top Hamas and Hezbollah officials, supported the safe-haven demand for gold. U.S. economic data released on Thursday was mixed, with jobless claims surging to 249,000, up from the previous 235,000, marking the highest levels since August 2023. Additionally, the U.S. flash manufacturing PMI data was disappointing, coming in at 46.8 in July, down from 48.5, the lowest reading since November 2023. The weak manufacturing data pushed silver prices lower.
Manoj Kumar Jain, Director, Prithvi Finmart
Expect gold and silver prices to remain volatile in today’s session ahead of the U.S. job data. Gold prices could hold $2,434 per troy ounce and silver could also hold $27.70 per troy on a weekly closing basis. Gold has support at $2462-2445, while resistance at $2494-2515 per troy ounce and silver has support at $28.15-27.84, while resistance is at $28.70-29.00 per troy ounce in today’s session. At mcx, gold is having support at 69740-69500 and resistance at 70220-70450 while silver is having support at 82100-81450 and resistance at 83200-84000.
Geojit London Gold Spot Technical Commentary 2 August 2024 (LBMA)
Gold LBMA Spot: Choppy trades remains on the card for the day. Anyhow stiff support is placed at $2380.
Silver LBMA Spot: It is required to trade above $28.50 to extend recovery rallies. Else, choppy with negative bias expected.
MCX Gold KG Oct: Expect weak bias as long as Rs 70500 caps further upside.
Silver KG Sep: Further rallies seen only above Rs 84000. If unable to do so may see corrective selling pressure.
Data to Watch Today 2 August 2024 (India Time)
06:00 PM United States Average Hourly Earnings
06:00 PM United States Non-Farm Employment Change
07:30 PM United States Factory Orders m/m
Nirmal Bang Securities Gold Fundamental Outlook For 2 August 2024
Gold and silver prices are trading slightly higher today on the international bourses. We expect gold and silver prices to trade higher for the day, as gold prices edged higher toward record levels, as markets digested higher-than-expected US unemployment figures that prompted traders to increase wagers on the number of rate cuts anticipated this year.
Ajay Kedia, Kedia Commodity
GOLD
Resistance: 2461.75-2478.15-2489.35
Support: 2429.6-2413.85-2402.65
SILVER
Resistance: 29.04-29.57-29.79
Support: 28.1-27.69-27.47
MCX GOLD
Resistance: 70385-70820-71150
Support: 69620-69290-68855
SILVER
Resistance: 83920-85240-85945
Support: 81895-81190-79870
IBJA Gold Price Today in Carats, fineness and Purity:
24 carat gold price today (Purity 999)- Rs 69721/10 Gram
24 carat gold price today (Purity 995)- Rs 69442/10 Gram
22 carat gold price today (Purity 916) – Rs 63864/10 Gram
18 carat gold price today (Purity 750) – Rs 52291/10 Gram
14 carat gold price today (Purity 585) – Rs 40787/10 Gram
Silver Price Today (Purity 999) – Rs 83464 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.