Gold price today, Silver price, COMEX, MCX Gold price: Gold, Silver price update for 13 June 2022, Monday. Know Views of India’s Big commodity experts like Manoj Jain, Prithvi Finmart 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. Check Update on Fed Meet.
On Friday, gold and silver were settled on a positive note in the international markets. Gold and silver gained on Friday after the U.S. inflation surged to fresh 40 year highs and reached to 8.6%. CPI inflation surged 1.0% in the month of May against an expected rise of 0.7% and against an increase of 0.3% in the month of April.
Federal Reserve Meeting on Interest Rate is starting from 14 June. Fed Meeting outcome will come on 15 June 2022. Expert expecting 0.5 percent rate hike from Fed Meet.
After record surged in the U.S. inflation numbers, global riskier assets and equity markets tanked last week and supported safe haven buying in precious metals. Despite record gains in the dollar index and the U.S. bond yields both precious metals gained in the international markets.
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The ECB also showed concerns of higher inflation and gave signals for raising interest rates from July policy meetings. Lower global growth outlook, higher global inflation and recession fears supported precious metals. The U.S. consumer sentiments also slipped to 50 year lows and supported precious metals.
Manoj Jain, Director of Commodity and Currency in Prithvi Finmart says he expect gold and silver to remain volatile this week and continue to hold their support levels. Gold has support at $1862-1850, while resistance at $1884-1900 per troy ounce. Silver has support at $21.66-21.40, while resistance is at $22.10-22.40 per troy ounce.
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Gold Platform Augmont in its weekly gold outlook said ”following the release of the US May CPI report, gold fell to $1824, its lowest level in three weeks, as Treasury yields rose. But then Gold broke above $1850 and gained strength after drifting sideways in a wide range. From a technical standpoint, gold holding over $1870 would indicate further advances. The next significant resistance level is seen at $1890. On the contrary, a return to current levels below $1850 would put gold under pressure.”
Jain Said at mcx, gold is having support at 51440-51180 and resistance at 51920-52100 while silver is having support at 61330-60660 and resistance at 62550-63100. We suggest buying in the silver around 61500 with a stop loss of 60800 on a daily closing basis for the target of 63000.
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Augmont said in its report ”as we approach another Federal Reserve meeting next week on 15 June, it will be no surprise if the Fed raises rates by 50 basis points this week to 1.5 percent, followed by another 50 basis points next month. This month also marks the commencement of the balance sheet reduction initiative, which will begin with $47.5 billion and increase to $95 billion every month after three months. In recent weeks, the discussion has evolved from the certainty of 50bps rate hikes in June and July to the possibility of another 50bps boost in September.”
Anuj Gupta, VP of Commodity and Currency said weakness in dollar and higher crude prices supporting to the gold prices. He said this week we are expecting that it may further trade higher. Higher inflation and weak job data put pressure on US DOLLAR. For this week gold has a strong support at 50500 levels on MCX and on Comex $1820 and resistance at 52200 on MCX and $1920 levels on COMEX.
Gupta said immediate suppprt seen at 1840 levels. It may test $1900 to $1920 levels soon. Silver may move between the range and buy on support level is recommending.
Kedia Advisory, Daily Commodity Calls 13 June 2022
BUY GOLD AUG 2022 @ 51400 SL 51200 TGT 51750-51950.MCX
BUY SILVER JUL 2022 @ 61500 SL 60800 TGT 62400-62800.MCX
SELL CRUDEOIL JUN 2022 @ 9500 SL 9650 TGT 9250-9150.MCX
SELL NAT GAS JUN 2022 @ 720.00 SL 750.00 TGT 670.00-640.00.MCX
BUY COPPER JUN 2022 @ 772.00 SL 768.00 TGT 779.00-784.00.MCX
BUY ZINC JUN 2022 @ 318.00 SL 314.00 TGT 323.00-326.00.MCX
BUY ALUMINIUM JUN 2022 @ 225.00 SL 222.00 TGT 232.00-235.00.MCX
BUY LEAD JUN 2022 @ 183.00 SL 180.00 TGT 188.00-190.00.MCX
Anuj Gupta, IIFL Sec, Daily Commodity Calls 13 June 2022
BUY Gold June at 51450, SL 51200, TARGET 51950
BUY Silver july at 61400, SL 60800, TARGET 62500
BUY MCX COPPER June AT 771, SL 765, TARGET 782
Buy MCX Crude Oil june at 9250, SL 9100, TARGET 9500
Buy Nse USDINR June @ 77.80, SL 77.60, TARGET 78.30
Gold Hallmarked Jewelery Rate per 10 gm in Chandigarh 11 June 2022 (Gold Price Today)
23 carat gold price – Rs 49600
22 carat gold price – Rs 44800
20 carat gold price – Rs 40600
18 carat gold price – Rs 32100
14 carat gold price – Rs 32300
Sone ki Ginni ka Bhav – Rs 40800/ per 8 grams
Silver Price (Silver Price 999.9) – Rs 63400/per kg
गोल्ड प्राइस टूडे का यूट्यूब चैनल सब्सक्राइब करें
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.