Gold Rate today | Silver price | Gold | Silver | MCX Gold price |: Gold and Silver price update for 19 March, 2023 Sunday. 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. Know impact of Federal Reserve meet on gold and silver.
Manoj Jain, Director of Commodity and Currency in Prithvi Finmart says gold and silver prices jumped last week in the international markets as gold prices hit 11 month highs and silver prices also hit 7 week highs due to banking turmoil in the United States. Sudden fallout of the SVC bank and other banks triggered safe-haven buying in bullion.
The dollar index also plunged and record weakness was seen in the U.S. bond yields. More than $125 per troy ounce rally seen in gold in the last week due to the global financial crisis. European banks are also hit hard after problems in Credit Suisse. Global equity markets also plunged due to the banking crisis in the U.S. and Europe and investors are rushing for safe-haven precious metals.
The U.S. Fed is scheduled to meet this week and their policy outcomes in light of the banking crisis and mixed U.S. economic indicators could give more directions to bullion markets. Federal Reserve meeting is on 21-22 March. Outcome of Fed meeting will come on 22 March 2023.
Jain expect gold and silver prices to remain volatile this week and gold could hold its support level of $1922 and silver could also hold $21.50 per troy ounce levels. Gold has support at $1970-1945, while resistance at $2010-2034 per troy ounce. Silver has support at $22.20-21.84, while resistance is at $23.10-23.50 per troy ounce.
According to Augmont Weekly outlook note ‘next week is very crucial for precious metals prices as there is FED meeting on Wednesday. Gold still has steam left to head towards $2000 (Rs 60000) before FED Wednesday meeting. If FED turns dovish (hints for pause in interest rate hike) in the meeting, gold rally is expected to head towards $2070 (Rs 62000). Meanwhile, if FED turns hawkish (raises interest rate by 50 bps), we could see profit booking from high levels.’
Jain said MCX, gold is having support at 58820-58500 and resistance at 59660-60000 while silver is having support at 67750-67200 and resistance at 69200-70000. We suggest buying gold on dips around 58800 and add more around 58400 with a stop loss of 57920 for the target of 59660-60000 and also suggest buying silver around 68000 and add more on dips around 67400 with a stop loss of 66660 for the targets of 69200-70000.
Gold Hallmarked Jewelery Rate per 10 gm in Chandigarh 19 March 2023 (Gold Price Today)
24 carat gold price – Rs 61450/10 gm (Rs 1500 Up)
23 carat gold price – Rs 58300/10 gm
22 carat gold price – Rs 56800/10 gm
20 carat gold price – Rs 51700/10 gm
18 carat gold price – Rs 46700
14 carat gold price – Rs 36700
Sone ki Ginni ka Bhav – Rs 44300/ per 8 grams
Silver Price (Silver Price 999.9) – Rs 70500/per kg (Rs 1200 Up)
Gold Rate Today in Dehradun (19 March 2023) (Sarafa Mandal Dehradun)
24 carat gold price (24 carat gold price) – Rs 61400 per 10 grams (Rs 350 Up)
23 carat gold price (958 Hallmark gold price) – 58820
22 carat gold price (916 Hallmark gold price) – 56140
20 carat gold price (833 Hallmark gold price) – 51150
18 carat gold price (750 Hallmark gold price) – 46660
14 carat gold price (583 Hallmark gold price) – 36840
Price of gold ginni (Sone ki Ginni ka Bhav 8 gram 916 Hallmark) – 47430
Silver Price – Rs 71000 per kg
Silver Coin Hallmarked – Rs 820 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.