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 21 June 2023, Wednesday. 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 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.
Comex gold and silver crashed after upbeat U.S. housing data and strength in the dollar index. The U.S. housing starts are unexpectedly up by 21.7% and building permits are also up by 5.2%. The U.S. housing starts shows a reading of 1.63 million units against expectations of 1.40 million units and building permits shows a reading of 1.49 million units against expectations of 1.42 million units. Much stronger housing data supported the dollar index and pushed gold and silver prices lower. Gold and silver also plunged ahead of the U.S. Fed Chairman’s semi-annual testimony before the U.S. congress on the monetary policy reports. Market is expecting his hawkish stance in the testimony and reacted negatively ahead of his speech on Wednesday and Thursday.
Manoj Kumar Jain, Director, Prithvi Finmart 21 June 2023 Comex Gold and Silver Update
‘We expect gold and silver prices to remain volatile in today’s session and get directions from the Fed Chairman’s comments on the interest rates and U.S. economy around 7.30 PM (India Time). Gold has support at $1934-1922, while resistance at $1958-1970 per troy ounce. Silver has support at $23.00-22.70, while resistance is at $23.50-23.80 per troy ounce.’
Comex Gold and Silver Update by Nirmal Bang Securities 21 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. We recommend buying around 23.50-40 for a target of 24.60-80.’
Gold LBMA Spot Geojit Daily Report 21 June 2023
Gold LBMA Spot: Support of $1920 if holds expect recovery upticks. A direct drop of which would trigger further liquidation pressure.
Silver LBMA Spot: While prices stay below $23.50 weak bias likely to continue the day. Major upside turnaround point is seen at $24.
Ravindra V. Rao, CMT, EPAT, VP-Head Commodity Research, Kotak Securities Ltd
‘The five-year rate loan prime rate, a reference for mortgages, was cut by 10 bps to 4.2%, against some economist’s expectations of bigger reduction of 15 bps to provide more support to the ailing housing market. Along with that, CNPC, China’s largest oil and gas producer forecasts 2023 China crude demand will grow by +3.5% to 740 MMT, down from a March estimate of +5.1% to 756 MMT, raising demand concerns. Russian seaborne exports edged lower during the previous week, however, remains above levels seen in February, showing lack of signs of pledged output cuts. Markets might remain in a cautious mood ahead of Fed Chair Jerome Powell’s speech later today.’
Ajay Kedia Director Kedia Commodity Comex Gold Levels
GOLD – $1936.09
Resistance: 1951.1-1966.1-1976.3-1983.2
Support: 1925.9-1915.6-1900.6-1893.7
SILVER – $23.15
Resistance: 23.75-24.35-24.67-24.84
Support: 22.82-22.5-21.9-21.73
Rahul Kalantri, VP Commodities, Mehta Equities
‘Gold has support at $1926-1916 while resistance is at $1948-1960. Silver has support at $22.92-22.78, while resistance is at $23.32-23.48.’
Motilal Oswal Financial Services (MOFSL) Commodity Report 21 June 2023
Data to Watch Today 21 June 2023 (India Time)
21st June 07:30 PM United States Fed Chair Powell Testifies (Impact on Gold and Silver- High)
21st June 07:30 PM United States FOMC Member Cook Speaks – Low
21st June 07:30 PM United States FOMC Member Jefferson Speaks – Low
21st June 07:30 PM United States FOMC Member Goolsbee Speaks – Low
Gold Ratio
Gold Silver Ratio: 83.08
Gold Crude Ratio: 27.36
Gold London: Gold and Silver Fix
Gold London AM Fix($/oz): 1953.85
Gold London PM Fix($/oz): 1930.45
Silver London Fix($/oz): 23.77
ETF Holdings as on Previous Close
SPDR Gold: 934.03 (Long), 4.33 (Short)
iShares Silver: 14,406.62 (Long), -14.28 (Short)
Weekly CFTC Positions
Gold($/oz): 126927 (Long), 33623 (Short), 93304 (Net)
Silver: 40237 (Long), 25600 (Short), 14637 (Net)
COMEX Futures Watch (Last Close)
Gold($/oz) Aug 23: 1947.70 Dollar (Close), -23.50 Dollar (Change)
Silver($/oz) JUL 23: 23.45 Dollar (Close), -0.89 (Change)
Nirmal Bang Securities Outlook For 21 June 2023
‘Gold and silver prices are trading lower on international bourses as prospect of more monetary tightening and ebbing haven demand are subduing prices. We expect gold to trade sideways to lower for the day on signs the Federal Reserve and the European Central Bank will keep raising interest rates, a negative for non-interest-bearing gold. The speech from Federal Reserve Chair Jerome Powell later in the day could show more light on the interest-rate path.’
Daily Commodity Calls Nirmal Bang Securities 21 June 2023
SELL GOLD AUG (MCX) AT 58950 SL 59200 TARGET 58650/58400
SELL SILVER JULY (MCX) AT 71000 SL 71600 TARGET 70250/70000
Anuj Gupta, VP, IIFL Sec, Daily Commodity Calls 21 June 2023
BUY MCX CRUDEOIL JULY AT 5750 SL 5650 TARGET 5950
SELL MCX GOLD AUG AT 59100 SL 59300 SL 58500
SELL MCX SILVER JULY AT 71000 SL 71600 TARGET 69700
BUY MCX COPPER JUNE AT 725 SL 719 TARGET 733
BUY NIFTY AT 18700 SL 18600 TARGET 18880
BUY BANKNIFTY AT 43400 SL 43000 TARGET 44200
BUY SENSEX AT 63000 SL 62600 TARGET 63700
SELL NSE USDINR AT 82.20, SL 82.40 TARGET 81.80
Manoj Jain, Director, Prithvi Finmart
‘At MCX, gold is having support at 58580-58350 and resistance at 59000-59220 while silver is having support at 69800-69250 and resistance at 70850-71400. We suggest staying away from gold and silver in today’s session ahead of the Fed Chairman’s speech and wait for fresh clues from his speech.’
Kedia Commodity MCX Gold, Silver Levels
MCXBULLDEX – 15837
Resistance: 16000-16162-16262
Support: 15738-15638-15476
GOLD – 58809
Resistance: 59247-59684-59976
Support: 58518-58226-57789
SILVER – 70387
Resistance: 71951-73515-74400
Support: 69502-68617-67053
Geojit Intraday Technical Outlook Gold and Silver 21 June 2023
MCX Gold: Stiff support is placed at Rs 58500 which if breaks expect further correction in prices. Else, turn around in prices are possible the day
MCX Silver: Weak bias to extend initially, but consistent trades below Rs 69500 would trigger major liquidation pressure.
Kedia Commodity Daily morning calls as on Tuesday, June 21, 2023
BUY GOLD @ 58650 SL 58450 TGT 58950-59150.MCX
BUY SILVER @ 69800 SL 69100 TGT 70700-71200.MCX
BUY CRUDEOIL @ 5760 SL 5670 TGT 5850-5950.MCX
BUY NAT GAS @ 204.00 SL 200.00 TGT 208.00-212.00.MCX
BUY COPPER @ 726.00 SL 722.00 TGT 732.00-736.00.MCX
BUY ZINC @ 213.00 SL 210.00 TGT 216.00-218.00.MCX
BUY ALUMINIUM @ 202.00 SL 200.00 TGT 204.00-206.00.MCX
BUY LEAD @ 183.00 SL 182.00 TGT 184.00-185.00.MCX
Gold Price Today in Carats, fineness and Purity:
24 carat gold price today (Purity 999)- Rs 61000/10 Gram
22 carat gold price today (Purity 916) – Rs 56500/10 Gram
18 carat gold price today (Purity 750) – Rs 46450/10 Gram
14 carat gold price today (Purity 585) – Rs 36600/10 Gram
Silver Price Today (Purity 999) – Rs 74900 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.