Gold price today, Silver price, COMEX, MCX Gold price: Gold, Silver price update for 2 June 2022, Thursday. Know Views of India’s Big commodity experts like Manoj Jain, Prithvi Finmart 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 showed very high volatility and recovered from their lows amid short coverings and bargain buying at lower levels. Both precious metals were settled on a slightly positive note in the international markets. Gold and silver showed roller coaster move on Wednesday as prices slipped below their support levels in the early trading session but short coverings at lower levels and bargain buying supported both precious metals.
Gold and silver prices were also supported by disappointing Italian and European unemployment data. German retail sales in the month of May plunged 5.4% against an expected decline of 0.5% while in the previous month it grew 0.9%. Downbeat European economic data also supported safe-haven buying in both precious metals. Gold and silver prices were also supported after Bank of America said that higher global crude oil prices could push the global economy into recession.
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Fear of global economic recession and higher inflation is supporting precious metal prices. However, strength in the dollar index and the U.S. bond yields restricted gains of both precious metals.
Manoj Jain, Director of Commodity and Currency in Prithvi Finmart expect gold and silver prices to remain volatile ahead of today’s OPEC+ meetings. Gold is having support at $1840-1828 per troy ounce and resistance at $1858-1870 per troy ounce while silver is having support at $21.55-21.35 per troy ounce and resistance at $22.00-22.20 per troy ounce.
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Jain said at MCX, gold is having support at 50700-50550 and resistance at 51000-51150 while silver is having support at 61100-60660 and resistance at 61900-62350. He suggest buying in gold on dips around 50700 with a stop loss of 50550 on a closing basis for the target of 51000.
Kedia Advisory, Daily Commodity Calls 2 June 2022
BUY GOLD AUG 2022 @ 50600 SL 50350 TGT 50900-51000.MCX
BUY SILVER JUL 2022 @ 60800 SL 60200 TGT 61500-62000.MCX
SELL CRUDEOIL JUN 2022 @ 9100 SL 9250 TGT 8850-8750.MCX
SELL NAT GAS JUN 2022 @ 685.00 SL 710.00 TGT 645.00-620.00.MCX
BUY COPPER JUN 2022 @ 773.00 SL 768.00 TGT 779.00-784.00.MCX
BUY ZINC JUN 2022 @ 327.00 SL 323.00 TGT 332.00-336.00.MCX
BUY ALUMINIUM JUN 2022 @ 230.00 SL 227.00 TGT 236.00-238.00.MCX
BUY LEAD JUN 2022 @ 182.00 SL 180.00 TGT 186.00-188.00.MCX
Anuj Gupta, IIFL Sec, Daily Commodity Calls 2 June 2022
BUY Gold June at 50750, SL 50350, TARGET 51400
BUY silver july at 61200, SL 60550, TARGET 62300
BUY MCX COPPER June AT 774, SL 767, TARGET 783
Buy MCX Crude Oil june at 8900, SL 8750 ,TARGET 9200
Sell Nse USDINR June @ 77.90, SL 78.20, TARGET 77.30
Gold Hallmarked Jewelery Rate per 10 gm in Chandigarh 1 June 2022 (Gold Price Today)
23 carat gold price – Rs 50300
22 carat gold price – Rs 49300
20 carat gold price – Rs 44500
18 carat gold price – Rs 40300
14 carat gold price – Rs 31900
Sone ki Ginni ka Bhav – Rs 40600/ per 8 grams
Silver Price (Silver Price 999.9) – Rs 63100/per kg
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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.