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 20 July 2023, Thursday. 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.
Comex group gold and silver traded steady after downbeat U.S. housing data supported the dollar index. The U.S. housing starts dropped 8% in June month to 1.43 million units against expectations of 1.48 million units. The U.S. building permits also dropped to 1.44 million units against expectation of 1.49 million units. After disappointing U.S. retail sales and core retail sales data, the U.S. housing data also disappointed and supported the dollar index. The dollar index tested 100 marks once again and limits gains of precious metals.
But gold and silver are holding their respective support levels of $1950 and $24.80 per troy ounce. Manoj Kumar Jain, Director of Prithvi Finmart, suggests that gold faces resistance at 2010 dollars. Similarly, Ajay Kedia, Director at Kedia Commodity, has provided a gold price range of 1968 to 2002 dollars.
Manoj Kumar Jain, Director, Prithvi Finmart
‘Expect gold and silver prices to remain volatile in today’s session ahead of the U.S. unemployment claims data and gold could hold its support level of $1950 per troy ounce and silver could also hold $24.80 per troy ounce levels. Gold has support at $1968-1955, while resistance at $1994-2010 per troy ounce. Silver has support at $25.10-24.80, while resistance is at $25.60-25.84 per troy ounce. We suggest booking profit in gold and silver in the long position and wait for some corrective dips for initiating fresh positions, overall trend for gold and silver is looking bullish.
Nirmal Bang Securities Gold Fundamental Outlook For 20 July 2023
Gold and silver prices are trading higher on international bourses. We expect gold to trade to higher for the day as a slump in Treasury yields after cooler-than-expected inflation and economic data in the UK and the US reinvigorated the prospect of potential easing by central banks.
Geojit London Gold Spot Technical Commentary 20 July 2023
Gold LBMA Spot: Prices needs to break above $1990 ti extend rallies. Else, there are chances of corrective selling pressure for the day.
Silver LBMA Spot: As long as $24.50 hold downside, intraday bias mostly on the positive side.
SMC Global Securities Views on MCX Gold and Silver 20 July 2023
Gold may trade in the range of 59500-60000, Silver also trades in the range of 76000-76900 where buying near support is advised. Gold prices inched up on Thursday, hovering near an eight-week peak on bets that the U.S. Federal Reserve might soon hit pause on its interest rate-hiking cycle. The Fed is expected to raise rates by 25 basis points (bps) in their meeting next week, keeping them in the 5.25%-5.5% range until cuts are seen 2024 onwards, per CME’s Fedwatch tool.
Ajay Kedia, Kedia Commodity
MCX Gold expected range of the day is 59400 – 60200
Gold$ expected range of the day is 1968 – 2002 Dollar
Key economic data slated for release include German PPI m/m, Current Account from Euro Zone and Unemployment Claims, Philly Fed Manufacturing Index, Existing Home Sales from US Zone.
Daily Commodity Calls Nirmal Bang Securities 20 July 2023
BUY GOLD AUG (MCX) AT 59800 SL 59550 TARGET 60100/60400
BUY SILVER JULY (MCX) AT 76200 SL 75700 TARGET 77000/77300
Geojit MCX Gold Technical Commentary
Gold KG Aug:As long as prices stay above Rs 59500 would continue positive bias. Else, choppy trades expected the day.
Silver KG Sep: If the support of Rs 73000 remains undisturbed expect choppy with positive bias. Consistent trades below the same would trigger liquidation.
Anuj Gupta, VP, IIFL Sec
Buy mcx crudeoil Aug at 6100 SL 5900 TARGET 6350
Buy MCX GOLD Aug at 59400 SL 59100 TARGET 59900
Buy MCX SILVER SEPT 76000 SL 75200 TARGET 77500
BUY MCX COPPER JULY AT 720 SL 714 TARGET 730
BUY NSE NIFTY AT 19650 SL 19550 TARGET 19900
BUY BANKNIFTY AT 45400 SL 45000 TARGET 46000
Gold Price Today in Carats, fineness and Purity:
24 carat gold price today (Purity 999)- Rs 60900/10 Gram
22 carat gold price today (Purity 916) – Rs 56300/10 Gram
18 carat gold price today (Purity 750) – Rs 46300/10 Gram
14 carat gold price today (Purity 585) – Rs 36350/10 Gram
Silver Price Today (Purity 999) – Rs 77600 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.
