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 2 June 2023, Friday. Know Views of India’s Big commodity experts like Manoj Jain, Prithvi Finmart, Sugandha Sachdeva Acme Investment Advisors, Ajay Kedia, Kedia Commodity and Anuj Gupta of IIFL Fin Sec, Nirmal Bang Securities, Kotak Securities, Motilal Oswal Financial Services 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.
Comex gold and silver extended its gain after profit taking in the dollar index and the U.S. bond yields. The dollar index slipped below 103.85 levels after U.S. debt ceiling bill passage in the U.S. house. The U.S. 10-year bond yields also slipped below 3.65% and supported gold and silver prices. Gold prices crossed its resistance level of $1985 per troy ounce once again and silver prices also tested $24 per troy ounce levels.
Comex gold and silver also gained after mixed U.S. economic data reduce chances of further FED rate hikes. The U.S. FED sentiment meter is now showing less than 50% probability for further interest rate hike in the upcoming FED policy meetings.
Manoj Kumar Jain, Director, Prithvi Finmart 2 June 2023 Comex Gold and Silver Update
”We expect Comex gold and silver prices to remain volatile in today’s session ahead of the U.S. job data and could hold its support level of $1968 and $23.50 per troy ounce respectively. Gold has support at $1984-1968, while resistance at $2010-2022 per troy ounce. Silver has support at $23.70-23.50, while resistance is at $24.30-24.55 per troy ounce.”
Comex Gold and Silver Update by Nirmal Bang Securities 2 June 2023
”Gold prices are supported at lower levels like 1950-60 Dollar and likely to bounce back to 2000 we are recommending to go long for a pullback till 2000-2010 Dollar. Silver are supportive at lower levels of 23.60-50 Dollar and can bounce till 24.20-45. We are recommending to go long between 23.70-80 for the target of 24.20-30.”
London Gold, Gold LBMA Spot Geojit Daily Report 2 June 2023
Gold LBMA Spot: Choppy trading expected initially. However, there are chances of recovery upticks to continue while prices stay above $1920.
Silver LBMA Spot:Consistent trades above $24.20 would lift prices higher. A direct break below $22.40 would continue weakness.
Data to Watch Today 2 June 2023 (India Time)
2nd June 06:00 PM United States Average Hourly Earnings m/m (Impact on gold and silver prices- High)
2nd June 06:00 PM United States Non-Farm Employment Change (Impact on gold and silver prices- High)
2nd June 06:00 PM United States Unemployment Rate (Impact on gold and silver prices- High)
Gold Ratio
Gold Silver Ratio: 83.19
Gold Crude Ratio: 28.47
Gold London: Gold and Silver Fix
Gold London AM Fix($/oz): 1958.75
Gold London PM Fix($/oz): 1974.35
Silver London Fix($/oz): 23.49
ETF Holdings as on Previous Close
SPDR Gold: 939.56 (Long), -1.73 (Short)
iShares Silver: 14,554.35 (Long), 00 (Short)
Weekly CFTC Positions
Gold($/oz): 148165 (Long), 30775 (Short), 117390 (Net)
Silver: 43901 (Long), 30724 (Short), 13177 (Net)
COMEX Futures Watch (Last Close)
Gold($/oz) Aug 23: 1982.10 Dollar (Close), 5 Dollar (Change)
Silver($/oz) JUL 23: 23.59 Dollar (Close), 0.35 (Change)
Nirmal Bang Securities Outlook For 2 June 2023
”Gold and silver prices are trading higher on international bourses. We expect precious metals prices on Indian bourses to trade higher for the day. We recommend buy on dips in gold and silver in intra-day trading sessions as investors look to US data today that could sway Federal Reserve policymakers to pause interest rate increases ahead of their next June meeting.”
Comex Gold and Silver: Ajay Kedia, Director Kedia Commodity Views 2 June 2023
Comex Gold Support: 1993-1989 Dollar
Comex Gold Resistance: 1996-2001 Dollar
Comex Silver Support: 23.92-23.85 Dollar
Comex Silver Resistance: 23.99-24.07 Dollar
Daily Commodity Calls Nirmal Bang Securities 2 June 2023
BUY GOLD AUG (MCX) AT 60200 SL 59950 TARGET 60500/60700
BUY SILVER JULY (MCX) AT 72200 SL 71500 TARGET 73200/73700
Anuj Gupta, VP, IIFL Sec, Daily Commodity Calls 2 June 2023
Buy MCX GOLD AUG AT 60000 SL 59750 TARGET 60500
BUY MCX SILVER JULY AT 72000 SL 71450 TARGET 73000
BUY MCX COPPER JUNT AT 712 SL 707 TARGET 722
BUY MCX CRUDEOIO JUNE AT 5750 DL 5600 TARGET 5980
Geojit Intraday Technical Outlook Gold and Silver 2 June 2023
MCX Gold:If the support of Rs 59000 remains hold, expect recovery rallies. Consistent trades below the same is a signa of downside reversal.
MCX Silver: As long as prices stay above Rs 72000 it may continue with the positive momentum. A direct drop below Rs 70000 is a weak signal.
Manoj Jain, Director, Prithvi Finmart
‘At MCX, gold is having support at 60000-59685 and resistance at 60500-60720 while silver is having support at 71850-71220 and resistance at 72950-73350. We suggest buying gold around 60000 with a stop loss at 59680 for the target of 60660 and also suggest buying silver around 71850 with a stop loss of 71100 for the target of 73200.’
Kedia Commodity Daily morning calls as on Friday, June 2, 2023
BUY GOLD AUG 2023 at 60000, SL 59750, TGT 60300-60500.MCX
BUY SILVER JUL 2023 at 72000, SL 71200, TGT 72800-73400.MCX
BUY CRUDEOIL JUN 2023 at 5750, SL 5650, TGT 5850-5950.MCX
BUY NAT GAS JUN 2023 at 176.00, SL 171.00, TGT 182.00-186.00.MCX
BUY COPPER JUN 2023 at 712.00, SL 707.00, TGT 718.00-722.00.MCX
BUY ZINC JUN 2023 at 205.00, SL 202.00, TGT 208.00-210.00.MCX
BUY ALUMINIUM JUN 2023 at 207.00, SL 205.00, TGT 209.00-211.00.MCX
BUY LEAD JUN 2023 at 181.00, SL 180.00, TGT 182.00-183.00.MCX
Gold Price Today in Carats, fineness and purity 2 June 2023:
24 carat gold price today (Purity 999)- Rs 62300/10 Gram
23 carat gold price today (Purity 995)- Rs 60100/10 Gram (Rs 300 Increase)
22 carat gold price today (Purity 916) – Rs 57600/10 Gram
18 carat gold price today (Purity 750) – Rs 47300/10 Gram
14 carat gold price today (Purity 585) – Rs 37200/10 Gram
Silver Price Today (Purity 999) – Rs 75000 per kg (Rs 800 Increase)
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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.