Federal Reserve Meeting Dates, Fed meeting 15, 16 March: US Central bank Federal Reserve is meeting on 15 and 16 March.The Fed Meeting is on interest rates. Know Views of India’s Big commodity experts like Manoj Jain of Prithvi Finmart, Ajay Kedia of Kedia Commodity 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. Also check Federal Reserve Meeting dates.
Fed meeting outcome will come on 16 March 2022. Gold and silver showed profit taking last week from their highs after the dollar index gained and crossed 99 marks again. The dollar index showed strength after the U.S. inflation hit record 40 year highs in February and prompted the U.S. Federal Reserve for interest rate hike in its forthcoming policy meeting this week.
Fed Meeting Dates Calendar
The dollar index hit five year highs against the Japanese Yen and also gained against other global currencies and pushed precious metals lower. However, the Russia-Ukraine crisis and global inflation concerns due to higher global energy prices supported both precious metals at lower levels.
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Manoj Jain, Director of Commodity and Currency in Prithvi Finmart expect precious metals to remain volatile this week ahead of the FOMC meeting. He says gold could hold its key support level of $1950 per troy ounce and silver could also hold $25 per troy ounce levels on a weekly closing basis.
Gold has support at $1978-1962, while resistance at $2010-2022 per troy ounce. Silver has support at $25.90-25.55, while resistance is at $26.55-27.00 per troy ounce. At MCX, gold is having support at 52500-52220 and resistance at 53100-53450 while silver is having support at 69500-68800 and resistance at 71100-72000.
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Manoj Jain suggest buying gold on dips around 52450 with a stop loss below 52100 on a closing basis for the target of 53200 and silver around 69600 with a stop loss below 68800 on a closing basis for the target of 71700.
Anuj Gupta, IIFL Sec, Daily Commodity Calls 14 March
Buy Gold Apr at 52200, Stop Loss 51700, TARGET 53200
Buy Silver May at 69500, Stop Loss 68500, TARGET 71000
Buy MCX COPPER Mar AT 800, Stop Loss 790, TARGET 815
Sell Crude oil Mar at 8500, Stop loss 8750, TARGET 7800
Sell USDINR Mar AT 76.80, SL 77.10, TARGET 76.00
Ajay Kedia, Kedia Commodity, Daily Commodity Calls 14 March
BUY GOLD 52600 SL 52300 TGT 53000
BUY SILVER 69800 SL 69200 TGT 70800
Gold Price per 10 gm in Lucknow 12 March 2022
24 carat gold price – Rs 55000
22 carat gold price- Rs 53500
18 carat gold price – Rs 48700
Silver Price – Rs 7250/kg
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. Gold Price Today will not be responsible for any loss caused to you.
