Fed Rate Hike, Fed Meet, Gold price today, Silver price, COMEX, MCX Gold price: Gold, Silver price update for 15 June 2022, Wednesday. 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. Federal Reserve Meeting outcome will come today. Fed rate hike is expected by most of the commodity experts.
Precious metals come under bear grip after strong gains in the dollar index, U.S. bond yields and expectations of higher than expected interest rate hikes by the U.S. Federal Reserves. The dollar index hit two decade highs and hovering above 105 marks while 10-year bond yields in the U.S. also hit a decade highs.
Fed meet outcome will come today after 11.30PM in night according to India time. Fed rate hike is expected by most of experts. There is debate on how much Fed will hike rate. Goldman Sachs forecasts a 75 basis point interest rate hike in the June policy meeting of the U.S. Federal Reserve and it would be the biggest hike since 1994.
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Gold prices slipped below $1822 per troy ounce and silver prices also slipped below $21 per troy ounce. The U.S. producer’s price index data released on Tuesday was as per expectations but signals that inflation remains hot in coming months.
Manoj Jain, Director of Commodity and Currency in Prithvi Finmart expect both precious metals to remain volatile in today’s session ahead of the Federal Reserve policy meeting outcomes and some short coverings expected at lower levels.
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He said gold is having support at $1800-1788 per troy ounce and resistance at $1822-1834 per troy ounce while silver is having support at $20.70-20.45 per troy ounce and resistance at $21.20-21.55 per troy ounce.
Vandna Bharti, Head, Commodity Research in SMC Global Sec says on Twitter Gold saw sharp fall. Today it is trading negative and can see 50200.However, downside looks limited. Tomorrow, Fed meet is scheduled & 50 bps hike is expected. If it happens then gold can see further jerk. If it indicates more than 50 bps rise then we can see sharp fall in gold.
According to Jain at mcx, gold is having support at 50000-49770 and resistance at 50440-50660 while silver is having support at 59000-58440 and resistance at 60000-60660. We suggest avoiding short selling in both precious metals at lower levels and wait for Fed policy outcomes for taking fresh positions.
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In a survey conducted by the World Gold Council (WGC) among central banks, 25 percent said they plan to buy more gold in the next 12 months, up from 21 percent last year. Central banks are also more optimistic this year on gold as a reserve asset, with 61 percent of respondents saying that global gold reserves will increase over the next 12 months.
Kedia Advisory, Daily Commodity Calls 15 June 2022
BUY GOLD AUG 2022 @ 50100 SL 49900 TGT 50350-50500.MCX
BUY SILVER JUL 2022 @ 59000 SL 58500 TGT 59650-6000.MCX
SELL CRUDEOIL JUN 2022 @ 9600 SL 9750 TGT 9350-9250.MCX
BUY NAT GAS JUN 2022 @ 540.00 SL 520.00 TGT 585.00-600.00.MCX
BUY COPPER JUN 2022 @ 755.00 SL 750.00 TGT 762.00-768.00.MCX
BUY ZINC JUN 2022 @ 310.00 SL 307.00 TGT 314.00-318.00.MCX
BUY ALUMINIUM JUN 2022 @ 216.00 SL 210.00 TGT 223.00-226.00.MCX
BUY LEAD JUN 2022 @ 182.00 SL 180.00 TGT 185.00-186.00.MCX
Anuj Gupta, IIFL Sec, Daily Commodity Calls 15 June 2022
SELL Gold June at 50500, SL 508500, TARGET 49800
SELL Silver July at 60200, SL 60850, TARGET 5900
SELL MCX COPPER June AT 756, SL 761, TARGET 747
Buy MCX Crude Oil june at 9300, SL 9100, TARGET 9600
Buy Nse USDINR June @ 78.00, SL 77.80, TARGET 78.50
Gold Hallmarked Jewelery Rate per 10 gm in Chandigarh 15 June 2022 (Gold Price Today)
23 carat gold price – Rs 50300
22 carat gold price – Rs 49200
20 carat gold price – Rs 44500
18 carat gold price – Rs 40300
14 carat gold price – Rs 31900
Sone ki Ginni ka Bhav – Rs 40600/ per 8 grams
Silver Price (Silver Price 999.9) – Rs 63800/per kg
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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.
