Gold price today, Silver price, COMEX, MCX Gold price: Gold, Silver price update for 2 May 2022, Monday. Know Views of India’s Big commodity experts like Manoj Jain of Prithvi Finmart, Ajay Kedia of Kedia Commodity and Anuj Gupta of IIFL Sec on 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.
Gold and silver prices showed very high volatility last week amid strong gains in the dollar index. The dollar index hit 20 year highs and posted highest monthly gain in last seven years. Strength in the dollar index pushed global commodities lower. Silver prices breached $23 per troy ounce levels but gold holds its key support of $1880 per troy ounce on a closing basis.
Federal Reserve meeting is starting from 3 May 2022. The outcome of Federal Reserve meeting will come on 4 May. Expert expecting 0.5 percent rate hike form Fed.
Note: If you want Gold and Silver price news on your mobile write ‘Gold News Update’ and send it on whatsapp no +918448469588
Hawkish Federal Reserve and prolonged lockdown in China kept global commodity markets highly volatile last week. A basket of currencies plunged to multi-year lows against the dollar. The benchmark 10-year bond yields also gained and caps gains of precious metals.
Manoj Jain, Director of Commodity and Currency in Prithvi Finmart expect precious metals to remain volatile this week ahead of the Federal Reserve policy meetings. Gold is expected to hold $1855 per troy ounce levels and silver could also hold next support level of $22 per troy ounce.
He said gold has support at $1884-1872, while resistance at $1908-1922 per troy ounce. Silver has support at $22.55-22.20, while resistance is at $23.00-23.30 per troy ounce. At mcx, gold is having support at 51550-51330 and resistance at 51880-52050 while silver is having support at 64000-63550 and resistance at 64800-65100 levels.
Follow Gold Price Today on Twitter
Jain suggest buying gold on dips around 51550 with a stop loss of 51180 for the target of 52050 and silver around 63800 with a stop loss of 63220 for the target of 65000.
Anuj Gupta, VP, IIFL Sec, Daily Commodity Calls 2 May 2022
Sell Gold June at 51800 SL 52100, TARGET 51100
Sell Silver july at 64600 SL 65100, TARGET 63500
Sell MCX COPPER May AT 785, SL 791, TARGET 774
Sell Crude Oil May at 8200, SL 8410, TARGET 7800
Buy USDINR may AT 76.60, SL 76.30, TARGET 77.20
Gold Hallmarked Jewelery Rate per 10 gm in Chandigarh 30 April 2022 (Gold Price Today)
23 carat gold price – Rs 51400
22 carat gold price – Rs 50500
20 carat gold price – Rs 45600
18 carat gold price – Rs 41300
14 carat gold price – Rs 32700
Sone ki Ginni ka Bhav – Rs 41600/ per 8 grams
Silver Price (Silver Price 999.9) – Rs 66800/per kg
Join God Price Today Telegram Group for instant updates
Note: The prices being given to you 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 jewelers add GST, making charges and hallmarking charges to the gold price. Many jewelers 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: This article is written for informational purposes only. This is the opinion of the expert. If you make any investment, first take the advice of your financial advisor. Individuals associated with Gold Price Today do not personally buy, sell or trade gold/silver. Gold Price Today will not be responsible for any loss caused to you.
