Gold Rate today | Silver price | Gold | Silver | MCX Gold price |: Gold and Silver price update for 17 March, 2023 Friday. Check 24, 22 carat gold, 18 carat gold rate, 14 carat gold price, Hallmark gold price and silver price in various cities of India. Know outlook on gold and silver by India’s Big commodity experts like Manoj Jain, Prithvi Finmart and Anuj Gupta of IIFL Sec on gold and silver.
Manoj Jain, Director of Commodity and Currency in Prithvi Finmart says gold and silver slipped from five-week highs registered on Thursday in the international markets after the European Central Bank hikes interest by 50 basis points to 3.50%. The ECB increased interest rates despite the banking crisis. The U.S. unemployment claims also fell last week to 1,92,000 against expectations of 2,05,000 claims. The U.S. building permits also increased to 1.52 million units against expectations of 1.34 million units while housing starts increased to 1.45 million units against expectations of 1.32 million units.
Upbeat U.S. data and increasing interest rates by the ECB triggered profit taking in gold and silver. However, the U.S. Philly Fed manufacturing index contracted 23.2 against expectation of a negative reading of 14.7. Downbeat manufacturing data and profit taking in the dollar index supported gold and silver prices at lower levels.
Jain expect gold and silver prices to remain volatile ahead of the next week’s U.S. Fed policy meetings and gold could hold its support level of $1884 and silver could also hold $21 per troy ounce levels. Gold has support at $1910-1896, while resistance at $1934-1945 per troy ounce. Silver has support at $21.34-21.00, while resistance is at $21.88-22.20 per troy ounce.
According to Jain at MCX, gold is having support at 57770-57550 and resistance at 58280-58500 while silver is having support at 66000-65550 and resistance at 67100-67750. He suggest buying silver around 66200 with a stop loss of 65650 for the target of 67200.
Anuj Gupta, IIFL Fin Sec, Daily Commodity Calls 17 March 2023
BUY MCX GOLD Apr AT 57800, SL 57450, TARGET 58500
BUY MCX Silver May AT 66000, SL 65450, TARGET 67500
BUY MCX COPPER MAR AT 747, SL 742, TARGET 757
BUY MCX CRUDEOIL mar AT 5600, SL 5450, TARGET 5850
Kedia Advisory Daily morning calls as on Wednesday, March 17, 2023
SELL GOLD APR 2023 at 58250, SL 58500, TGT 57950-57750.MCX
SELL SILVER MAY 2023 at 67000, SL 67800, TGT 66200-65700.MCX
BUY CRUDEOIL MAR 2023 at 5620, SL 5540, TGT 5720-5820.MCX
BUY NAT GAS MAR 2023 at 205.00, SL 200.00, TGT 213.00-218.00.MCX
BUY COPPER MAR 2023 at 745.00, SL 740.00, TGT 753.00-758.00.MCX
BUY ZINC MAR 2023 at 253.00, SL 250.00, TGT 258.00-260.00.MCX
BUY ALUMINIUM MAR 2023 at 202.00, SL 200.00, TGT 205.00-208.00.MCX
BUY LEAD MAR 2023 at 181.00, SL 180.00, TGT 182.00-183.00.MCX
Gold Hallmarked Jewelery Rate per 10 gm in Chandigarh 16 March 2023 (Gold Price Today)
23 carat gold price – Rs 57500/10 gm (Rs 300 Up)
22 carat gold price – Rs 55100/10 gm
20 carat gold price – Rs 50200/10 gm
18 carat gold price – Rs 45300
14 carat gold price – Rs 35600
Sone ki Ginni ka Bhav – Rs 45300/ per 8 grams
Silver Price (Silver Price 999.9) – Rs 68900/per kg (Rs 300 Up)
Gold Rate Today in Dehradun (16 March 2023) (Sarafa Mandal Dehradun)
24 carat gold price (24 carat gold price) – Rs 59600 per 10 grams (Rs 350 Up)
23 carat gold price (958 Hallmark gold price) – 57100
22 carat gold price (916 Hallmark gold price) – 54490
20 carat gold price (833 Hallmark gold price) – 49650
18 carat gold price (750 Hallmark gold price) – 45300
14 carat gold price (583 Hallmark gold price) – 35550
Price of gold ginni (Sone ki Ginni ka Bhav 8 gram 916 Hallmark) – 46040
Silver Price – Rs 69000 per kg
Silver Coin Hallmarked – Rs 810 per piece
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.