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 28 June 2023, Wednesay. 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.
Gold and silver gained in the early trading session but unable to hold its gains after U.S. data. The U.S. CB consumer confidence index rose to 109.7 in June month against May month reading of 102.5 and expected reading of 103.9. The U.S. consumer confidence is at their highest level in last 1.5 years. The U.S. new home sales also surged to 7,63,000 units against expected sales of 6,77,000 units. Upbeat U.S. data increased fears for further interest rates hikes from the U.S. Fed and pushed gold prices lower. Global crude oil prices also fell and the U.S. bond yields gained once again and also triggered selling in precious metals. Silver showed some strength amid gains in base metals.
Manoj Kumar Jain, Director, Prithvi Finmart
‘Expect gold and silver prices to remain volatile this week ahead of the U.S. Fed Chairman’s speech and key U.S. inflation data. Gold has support at $1908-1896, while resistance at $1934-1945 per troy ounce. Silver has support at $22.70-22.44, while resistance is at $23.20-23.50 per troy ounce. Suggest staying away from gold and silver in today’s session ahead of the Fed Chairman and ECB President’s speech.’
Comex Gold and Silver Update by Nirmal Bang Securities 28 June 2023
‘Gold prices are supported at lower levels like 1940-44 and likely to test 1970-90. We are recommending to buy on dips around 1955-50 for a target of 1970-80. For silver recommend buying around 23.50-40 for a target of 24.60-80.’
Ravindra Rao, CMT, EPAT, VP-Head Commodity Research, Kotak Securities Ltd
‘Gold prices holds losses and trades near $1923/oz as investors await further hints on the future rate path and will closely monitor appearances from several Fed officials, including Chair Powel, further economic data and the Bank Stress Test results.’
Gold LBMA Spot Geojit Daily Report 28 June 2023
Gold LBMA Spot: A direct break below $1900 would extend liquidation. Else, recovery upticks are on the cards.
Silver LBMA Spot:Choppy trades expected initially. Further selloffs are expected only a break of $22.
Ajay Kedia Director Kedia Commodity Comex Gold Levels
GOLD$ – 1913.51
Resistance: 1924.8-1936.2-1942.8-1949.7
Support: 1906.9-1900.3-1889-1882.1
SILVER$ – 22.85
Resistance: 23.03-23.2-23.33-23.5
Support: 22.72-22.59-22.42-22.25
Motilal Oswal Financial Services (MOFSL) Commodity Report 28 June 2023
Rahul Kalantri, VP Commodities, Mehta Equities
‘Gold has support at $1904-1892 while resistance at $1928-1940. Silver has support at $22.68-22.51, while resistance is at $23.10-23.26.’
Data to Watch Today 28 June 2023 (India Time)
28th June 07:00 PM United States Fed Chair Powell Speaks -( Impact on gold and silver prices- High)
28th June 08:30 PM Europe ECB President Lagarde Speaks – ( Impact on gold and silver prices- Medium)
Gold Ratio
Gold Silver Ratio: 83.11
Gold Crude Ratio: 28.42
Gold London: Gold and Silver Fix
Gold London AM Fix($/oz): 1923.95
Gold London PM Fix($/oz): 1918.90
Silver London Fix($/oz): 22.84
ETF Holdings as on Previous Close
SPDR Gold: 927.10 (Long), -2.6 (Short)
iShares Silver: 14,635.04 (Long),22.84 (Short)
Weekly CFTC Positions
Gold($/oz): 128005 (Long), 33379 (Short), 94626 (Net)
Silver: 38344 (Long), 27043 (Short), 11301 (Net)
COMEX Futures Watch (Last Close)
Gold($/oz) Aug 23: 1923.80 Dollar (Close), -10.00 (Change)
Silver($/oz) JUL 23: 23.15 Dollar (Close), 0.12 (Change)
Nirmal Bang Securities Gold Fundamental Outlook For 28 June 2023
Fundamental Outlook: Gold and silver prices are trading flat on international bourses. We expect gold to trade lower for the day as a flurry of data showed a surprisingly strong US economy, giving the Federal Reserve more scope to keep raising rates.
SMC Global Securities Views on MCX Gold and Silver 28 June
Gold may trade in the range of 57900-58400, Silver also trades in the range of 69500-70400 where selling near resistance is advised. Gold prices hovered near three-month lows as upbeat U.S. economic reports made a strong case for rates being higher, yet traders
awaited cues from Federal Reserve Chair Jerome Powell and more economic data for a path ahead on rate-hikes.
Daily Commodity Calls Nirmal Bang Securities 28 June 2023
SELL GOLD AUG (MCX) AT 58250 SL 58550 TARGET 57900/57750
SELL SILVER JULY (MCX) AT 69700 SL 70300 TARGET 68700/68200
Kedia Commodity MCX Gold, Silver Levels
MCXBULLDEX – 15665
Resistance: 15745-15825-15884
Support: 15606-15547-15467
GOLD – 58107
Resistance: 58415-58722-58895
Support: 57935-57762-57455
SILVER – 69341
Resistance: 69773-70206-70560
Support: 68986-68632-68199
Geojit Intraday Technical Outlook Gold and Silver 28 June 2023
MCX Gold: As long as prices stay below Rs 59000 would extend weakness. Break above Rs 60500 is a sign of recovery momentum.
MCX Silver: Consistent trades above Rs 71000 would extend recovery upticks. Else, choppy with negative trades is on the cards.
Manoj Kumar Jain, Director, Prithvi Finmart
‘At MCX, gold is having support at 57880-57650 and resistance at 58300-58550 while silver is having support at 68800-68350 and resistance at 69900-70400. We suggest staying away from gold and silver in today’s session ahead of the Fed Chairman and ECB President’s speech.’
Anuj Gupta, VP, IIFL Securities
BUY MCX CRUDEOIL JULY AT 5600 SL 5500 TARGET 5800
Sell MCX GOLD AUG AT 58300 SL 58700 SL 57700
BUY MCX SILVER JULY AT 68500 SL 68000 TARGET 70000
BUY MCX COPPER JULY AT 714 SL 708 TARGET 726
BUY NIFTY AT 18750 SL 18650 TARGET 18900
BUY BANKNIFTY AT 43800 SL 43400 TARGET 44400
BUY SENSEX AT 63000 SL 62600 TARGET 63800
SELL USDINR AT 82.20 SL 82.30 TARGET 81.80
Kedia Commodity Daily morning calls as on Tuesday, June 28, 2023
SELL GOLD AUG 2023 at 58450 SL 58650 TGT 58100-57900.MCX
SELL SILVER JUL 2023 at 69800 SL 70200 TGT 69200-68850.MCX
SELL CRUDEOIL JUL 2023 at 5680 SL 5760 TGT 5580-5500.MCX
SELL NAT GAS JUL 2023 at 238.00 SL 245.00 TGT 232.00-226.00.MCX
BUY COPPER JUL 2023 at 712.00 SL 708.00 TGT 717.00-720.00.MCX
BUY ZINC JUL 2023 at 212.00 SL 209.00 TGT 215.00-217.00.MCX
BUY ALUMINIUM JUL 2023 at 195.00 SL 193.00 TGT 198.00-200.00.MCX
BUY LEAD JUL 2023 at 181.00 SL 180.00 TGT 182.00-183.00.MCX
Gold Price Today in Carats, fineness and Purity:
24 carat gold price today (Purity 999)- Rs 60000/10 Gram
22 carat gold price today (Purity 916) – Rs 55600/10 Gram
18 carat gold price today (Purity 750) – Rs 45700/10 Gram
14 carat gold price today (Purity 585) – Rs 35900/10 Gram
Silver Price Today (Purity 999) – Rs 72200 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.