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 25 July 2023, Tuesday. 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, SMC Global Securities 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.
The US Federal Reserve Meeting Begins Today. The Outcome of the Federal Reserve Meeting is Scheduled to be Announced on 26 July 2023 at 11:30 PM as per India Time. Comex gold and silver extended its fall ahead of the FOMC meetings and strength in the dollar index. The dollar index after hitting a 15 month lows last week shows strong recovery and crossed 101 marks once again amid anticipation that the U.S. Fed could increase interest rates by 25 basis points in its monetary policy meetings.
The U.S. 10-year bond yields also crossed 3.85% marks. The U.S. economic data released last week were mixed and flash manufacturing PMI data released on Monday was slightly better than expected and also pushed precious metals lower. Market is waiting for further clues from the U.S. Fed and Chairman Jerome Powell on the monetary policy and interest rates.
Manoj Kumar Jain, Director, Prithvi Finmart
We expect gold and silver prices to remain volatile in today’s session amid volatility in the dollar index and gold could test its support level of $1945 per troy ounce and silver could also test $24.40 per troy ounce levels. Gold has support at $1955-1945, while resistance at $1974-1988 per troy ounce. Silver has support at $24.40-24.15, while resistance is at $24.80-25.10 per troy ounce.
Geojit Intraday Technical Outlook London Gold Spot Market
Gold LBMA Spot: Expect choppy trades inside $1940-1990 levels with mild negative bias. Breaking any of the sides would suggest fresh short term direction.
Silver LBMA Spot: Break above $25.20 would extend rallies. Else, there are chances of corrective selling pressure.
Ravindra V.Rao, CMT, CFTe, EPATian, VP-Head Commodity Research, Kotak Securities
Bullions might come under pressure for the day. Having said that, any signs of dovishness from Fed might boost the yellow metal post the FOMC meeting. Meanwhile, China’s push to ease its dependency on growth through unsustainable manufacturing and construction pared bets that the government will pass significant stimulus measures despite increasing evidence of a slow economic recovery for the world’s major consumer, limiting the downside. We might see some pressure in bullions ahead of the FOMC meeting, as investors might stay cautious amid rising bets for a September rate hike.
Data To Watch Today 25 July 2023
25th July 6:30 PM United States HPI m/m 0.6% 0.% Low
25th July 6:30 PM United States S&P/CS Composite-20 HPI y/y -1.6% -1.7% Low
25th July 7:30 PM United States CB Consumer Confidence 12.1 109.7 High
25th July 7:30 PM United States Richmond Manufacturing Index -9 -7 Medium
Nirmal Bang Securities Gold Fundamental Outlook For 25 July 2023
Gold and silver prices are trading flat on international bourses. We expect gold to trade sideways to lower for the day as the Federal Reserve and the European Central Bank are set to increase interest rates and to signal whether more hikes are likely. After experiencing a notable decline to 59,000 following a recent bullish streak, gold is anticipated to find support within the range of 58,800 to 58,850.
‘We expect the precious metal to stage a potential rebound, targeting levels around 59,450 to 59,500 once again. Silver prices also witnessed a period of profit-taking, resulting in a sharp decline to 74,000 levels. However, our analysis suggests that the downward movement has likely concluded, and we expect the upward rally to resume, targeting 76,000. It is advisable to consider buying on any price dips, with potential targets set at 75,000 and 76,000.’
SMC Global Securites Weekly Report
Gold may trade in the range of 58800-59300, Silver also trades in the range of 73600-74500 where selling near resistance is advised. Gold prices struggled for direction in early Asian trading on Tuesday as traders braced for a widely anticipated rate hike along with monetary policy clues from the U.S. Federal Reserve over the next two days
Ajay Kedia, Director, Kedia Commodity
MCX Gold expected range for the day is 58700 – 59450
Gold expected range for the day is 1945$ – 1978$
Geojit MCX Technical Commentary
Gold KG Aug: Expect a choppy trade inside Rs 60000-58200 levels and either side breakout would suggest fresh short term direction.
Silver KG Sep: Break above the resistance of Rs 77000 would continue rallies. Else, weak momentum is likely in the cards.
Anuj Gupta, VP, IIFL Sec
Sell GOLD AUG AT 59300 SL 59650 TARGET 58800
Buy MCX SILVER SEPT AT 73500 SL 72700 TARGET 74500
BUY MCX CRUDEOIL AUG AT 6300 SL 6150 TARGET 6500
BUY MCX COPPER AUG AT 724 SL 719 TARGET 735
BUY NSE NIFTY AT 19650 SL 19500 TARGET 19900
BUY BANKNIFTY AT 45700 SL 45400 TARGET 46400
BUY SENSEX AT 66000 SL 65700 TARGET 66700
SELL NSE USDINRVAT 82.00 SL 82.20 TARGET 81.60
Buy NCDEX CORIANDER AUG AT 7600 SL 7400 TARGET 8200
Manoj Kumar Jain, Director, Prithvi Finmart
At MCX, gold is having support at 58880-58700 and resistance at 59280-59500 while silver is having support at 73700-73220 and resistance at 74500-74950. We suggest selling gold around 59200 with a stop loss of 59440 for the target of 58800 and also suggest selling silver around 74400 with a stop loss of 74950 for the target of 73550.
Gold Price Today in Carats, fineness and Purity:
24 carat gold price today (Purity 999)- Rs 60900/10 Gram
22 carat gold price today (Purity 916) – Rs 56300/10 Gram
18 carat gold price today (Purity 750) – Rs 46300/10 Gram
14 carat gold price today (Purity 585) – Rs 36300/10 Gram
Silver Price Today (Purity 999) – Rs 76300 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.
