Gold price today, Silver price, COMEX, MCX Gold price FOMC Minutes: Gold, Silver price update for 6 April 2022, Wednesday. 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. Check update on gold, silver price outlook for COMEX.
Gold and silver plunged on Tuesday amid strong gains in the dollar index and U.S. bond yields after the Federal Reserve member said for more tightening. Both precious metals were settled on a weaker note in the international markets. Gold June futures contract were settled at $1922 per troy ounce with a loss of 0.62% and silver May futures contract were settled at $24.45 per troy ounce with a loss of 0.57%.
The dollar index and U.S. bond yields rise after Federal Reserve Governor Lael Brainard said that she expects methodical rate hikes and rapid reductions to the central bank’s balance sheet to bring U.S. monetary policy to a “more neutral position” later this year. After her signal for a more aggressive stance to fight inflationary pressure pushed gold and silver lower.
The dollar index crossed 99 marks again while the benchmark 10-year bond yields crossed 2.55%. However, talks of more economic sanctions on Russia by western countries, Russia-Ukraine conflicts and higher global inflation pressures are supporting precious metals at lower levels.
According to Manoj Jain, Director of Commodity and Currency in Prithvi Finmart gold is holding $1900 per troy ounce and silver is also holding $24 per troy ounce levels.
Jain expect today’s FOMC minutes will give further directions to both precious metals and the market to remain volatile in today’s session.
Manoj Jain said gold is having support at $1910-1900 per troy ounce and resistance at $1934-1945 per troy ounce while silver is having support at $24.20-24.00 per troy ounce and resistance at $24.70-25.00 per troy ounce. At mcx, gold is having support at 51150-50950 and resistance at 51580-51770 while silver is having support at 65800-65350 and resistance at 66660-67100.
He expect high volatility in both precious metals in today’s session ahead of the FOMC minutes.
Anuj Gupta, IIFL Sec, Daily Commodity Calls 6 April
Buy Gold June at 51100, Stop loss 50750, Target 51800
Buy Silver May at 65700, Stop loss 64900, Target 67000
Sell MCX COPPER Apr AT 824, Stop loss 831, Target 815
Sell Crude oil apr at 7950, Stop loss 8150, Target 7500
Buy USDINR apr AT 75.40, Stop loss 75.20, Target 75.90
Ajay Kedia, Kedia Commodity, Daily Commodity Calls 6 April
Sell GOLD June 2022 at 51500, Stop loss 51850, Target 51100-50900. MCX
Sell SILVER May 2022 at 66600, Stop loss 67000, Target 66000-65800. MCX
BUY CRUDEOIL Apr 2022 at 7700,Stop loss 7580, Target 7850-7950. MCX
BUY COPPER Apr 2022 at 819, Stop loss 814, Target 826-830. MCX
BUY COTTON Apr 2022 at 42800, Stop loss 42400, Target 43400-43600. MCX
Gold Hallmarked Jewelery Rate per 10 gm in Chandigarh 5 April 2022 (Gold Price Today)
23 carat gold price – 51100 rupees (100 rupees expensive)
22 carat gold price – Rs 50000
20 carat gold price – Rs 45300
18 carat gold price – Rs 41000
14 carat gold price – Rs 32500
Sone ki Ginni ka Bhav – Rs 41200/ per 8 grams
Silver Price (Silver Price 999.9) – Rs 68300/per 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.
