Gold Rate today, Silver price, COMEX, MCX Gold price: Gold, Silver price update for 24 June 2022, Friday. 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 on Thursday and it gained after downbeat U.S. economic data but unable to hold prices at higher levels. The U.S. flash manufacturing PMI fell to 52.4 against an expected reading of 56.0 while flash services PMI also fell to 51.6 against an expected reading of 53.9. Unemployment claims in the United States showed a reading of 2,29,000 last week against expectations of 2,27,000 claims. The U.S. current account deficit widened to $291 billion against previous data of $218 billion.
Downbeat U.S. economic data supported both precious metals in the international markets but the U.S. Federal Reserve Chairman’s comments on the inflation, economic growth and interest rates before the U.S. congress pushed both precious metals lower in the late evening session.
Powell said it will be challenging for the Fed to engineer a soft landing for the U.S. economy, amid the central bank’s aggressive tightening of its monetary policy. Powell also said on Wednesday that the U.S. Fed is little worried that the U.S. economy will slip into recession. After his comments heavy sell-off was seen in global commodities.
Manoj Jain, Director of Commodity and Currency in Prithvi Finmart said gold and silver prices to remain volatile in today’s session and could hold its support levels of $1800 per troy ounce and $20.55 per troy ounce respectively. Gold is having support at $1814-1800 per troy ounce and resistance at $1838-1850 per troy ounce while silver is having support at $20.84-20.55 per troy ounce and resistance at $21.30-21.55 per troy ounce.
According to Jain at MCX, gold is having support at 50380-50220 and resistance at 50800-51050 while silver is having support at 59100-58800 and resistance at 59900-60500. We suggest buying gold on dips around 50450 with a stop loss of 50220 on a closing basis for the target of 50850.
Anuj Gupta, VP, IIFL Fin Sec, Daily Commodity Calls 24 June 2022
SELL Gold June at 50900, SL 51200, TARGET 50300
Sell silver july at 60000, SL 60600, TARGET 59000
SELL MCX COPPER June AT 700, sl 707, TARGET 687
SELL MCX Crude Oil june at 8300, SL 8560, TARGET 8000
Buy Nse USDINR June @ 78.10, SL 77.90, TARGET 78.60
Kedia Advisory, Daily Commodity Calls 24 June 2022
BUY GOLD AUG 2022 @ 50500 SL 50300 TGT 50800-51000.MCX
BUY SILVER JUL 2022 @ 59400 SL 58800 TGT 60200-60700.MCX
SELL CRUDEOIL JUL 2022 @ 8450 SL 8550 TGT 8300-8200.MCX
SELL NAT GAS JUN 2022 @ 555.00 SL 575.00 TGT 525.00-510.00.MCX
BUY COPPER JUL 2022 @ 714.00 SL 710.00 TGT 720.00-724.00.MCX
BUY ZINC JUL 2022 @ 308.00 SL 304.00 TGT 313.00-316.00.MCX
BUY ALUMINIUM JUL 2022 @ 214.00 SL 212.00 TGT 218.00-220.00.MCX
BUY LEAD JUL 2022 @ 185.00 SL 183.00 TGT 188.00-189.00.MCX
BUY TURMERIC JUL 2022 @ 7800 SL 7720 TGT 7920-8050.NCDEX
BUY JEERA JUL 2022 @ 20700 SL 20500 TGT 21150-21400.NCDEX
BUY DHANIYA JUL 2022 @ 10900 SL 10700 TGT 11150-11300.NCDEX
BUY MENTHAOIL JUL 2022 @ 1010.00 SL 1000.00 TGT 1025.00-1035.00.MCX
BUY GUARSEED JUL 2022 @ 5400 SL 5300 TGT 5550-5650.NCDEX
BUY GUARGUM JUL 2022 @ 10100 SL 9950 TGT 1350-1500.NCDEX
BUY COTTON JUL 2022 @ 43800 SL 43200 TGT 44500-45000.MCX
BUY CASTORSEED JUL 2022 @ 7220 SL 7150 TGT 7350-7450.NCDEX
BUY COCUDAKL JUL 2022 @ 2560 SL 2520 TGT 2630-2660.NCDEX
Gold Hallmarked Jewelery Rate per 10 gm in Chandigarh 23 June 2022 (Gold Price Today)
23 carat gold price – Rs 50600
22 carat gold price – Rs 49600
20 carat gold price – Rs 44800
18 carat gold price – Rs 40600
14 carat gold price – Rs 32200
Sone ki Ginni ka Bhav – Rs 40900/ per 8 grams
Silver Price (Silver Price 999.9) – Rs 62600/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.
