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Federal Reserve Meeting on Interest Rate From Today, No change will support Gold and Silver: Prithvi Finmart

Gold Rate today | Silver price | Gold | Silver | MCX Gold price |: Gold and Silver price update for 21 March, 2023 Monday. 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. Federal Reserve Meeting is starting from today.

Manoj Jain, Director of Commodity and Currency in Prithvi Finmart says gold prices hit one year high in the international markets and life-time high in the domestic markets. Silver prices also gained following gold and hit 69,000 levels in the domestic markets. Gold and silver showed very high price volatility due to banking crisis in the U.S. and Europe, weakness in the dollar index, sharp fall in the U.S. bond yields, heavy sell-off in the global equity markets and recession fears.

Gold and silver showed profit taking from their highs ahead of the Fed meeting outcomes but overall long-term trend intact bullish for precious metals. 2 days Federal Reserve meeting on interest rates is starting from today. If the Fed holds interest rates unchanged could further support bullion prices in the international markets.

According to Jain gold and silver prices to remain volatile this week and gold could hold $1922 and silver also holds $21.50 per troy ounce levels. Gold has support at $1966-1950, while resistance at $2000-2015 per troy ounce. Silver has support at $22.30-21.88, while resistance is at $22.90-23.34 per troy ounce

Kedia Advisory says traders are now pricing in a 49% chance of the Fed holding rates in the current range. Risk aversion gripped financial markets despite global central banks announcing measures to provide dollar liquidity in a bid to stem fallout from panic in the banking sector. Similarly, concerns mounted about the health of the global financial system despite UBS Group AG, Switzerland’s largest banking group, agreeing to buy the crisis-hit Credit Suisse Group AG in a historic, government-brokered dea.

Jain said at MCX, gold is having support at 59220-58950 and resistance at 59800-60000 while silver is having support at 68200-67750 and resistance at 69350-69800. He suggest buying silver on dips around 68400 with a stop loss of 67750 for the target of 69,500 and wait for some corrective dips in gold for initiating fresh positions.

Anuj Gupta, IIFL Fin Sec, Daily Commodity Calls 21 March 2023
BUY MCX GOLD APR AT 59100, SL 58800, TARGET 59700
Buy MCX Silver may 68800, SL 68000, TARGET 69900
BUY MCX COPPER MAR AT 753, SL 747, TARGET 763
Buy MCX CRUDEOIL Mar AT 5400, SL 5300, TARGET 5650

Kedia Advisory, Daily morning calls as on Monday, 21 March 2023
BUY GOLD APR 2023 at 59300, SL 59100, TGT 59600-59800.MCX
BUY SILVER MAY 2023 at 68400, SL 67800, TGT 69200-69600.MCX
BUY CRUDEOIL APR 2023 at 5450, SL 5360, TGT 5560-5620.MCX
BUY NAT GAS MAR 2023 at 182.00, SL 176.00, TGT 190.00-196.00.MCX
SELL COPPER MAR 2023 at 760.00, SL 765.00, TGT 754.00-750.00.MCX
SELL ZINC MAR 2023 at 258.00, SL 260.00, TGT 254.00-252.00.MCX
SELL ALUMINIUM MAR 2023 at 206.00, SL 209.00, TGT 203.00-201.00.MCX
SELL LEAD MAR 2023 at 184.00, SL 185.00, TGT 183.00-182.00.MCX

Gold Hallmarked Jewelery Rate per 10 gm in Chandigarh 20 March 2023 (Gold Price Today)
22 carat gold price – Rs 57400/10 gm
18 carat gold price – Rs 47100
14 carat gold price – Rs 37000
Sone ki Ginni ka Bhav – Rs 47400/ per 8 grams
Silver Price (Silver Price 999.9) – Rs 71000/per kg (Rs 1200 Up)

Gold Rate Today in Dehradun (20 March 2023) (Sarafa Mandal Dehradun)
24 carat gold price (24 carat gold price) – Rs 61900 per 10 grams (Rs 350 Up)
23 carat gold price (958 Hallmark gold price) – 59300
22 carat gold price (916 Hallmark gold price) – 56600
20 carat gold price (833 Hallmark gold price) – 51560
18 carat gold price (750 Hallmark gold price) – 47040
14 carat gold price (583 Hallmark gold price) – 37140
Price of gold ginni (Sone ki Ginni ka Bhav 8 gram 916 Hallmark) – 47820
Silver Price – Rs 71000 per kg
Silver Coin Hallmarked – Rs 830 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.

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