Gold Rate today, Silver price, COMEX, MCX Gold price: Gold, Silver price update for 27 June 2022, Monday. 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 prices slipped last week as gold slipped to four week lows and silver prices plunged to six week lows. The narrative of global investors is shifted from the problematic inflation to global economic recession. Global commodity and energy prices crashed last week amid demand concerns due to global economic slowdown.
According to Ajay Kedia of Kedia Commodity on Sunday, at the G7 meeting, the US, Britain, Japan, and Canada announced they would ban imports of new gold produced in Russia. Sanctions against Russia will impact India this would lead to an increase in premium in spot market for Gold.
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The Federal Reserve Chairman’s remarks before the U.S. congress gave some comfort to the U.S. policy makers as the interest rate hikes would be unconditional to tame inflation. Global equity markets also recovered from their lows after sharp decline in global energy prices. However, profit taking in the dollar index and downbeat U.S. economic data supported gold and silver at lower levels.
According to Anuj Gupta, VP of Commodity and Currency in IIFL Fin Sec technically gold find support at $1810 (49900 MCX) levels and than strong support at $1770 levels (49200 MCX) levels. Resistance at $1855 (51300 MCX) levels and $1880 levels (52000 MCX).
51300 levels.
Silver is taking cues from weakness in base metals prices as lower demand expectation due to fear of the recession. Silver can find support at $20.50 (58500) levels and next support at $20.00 (56000 MCX) levels. Resistance at $21.50(62500) levels and $22.00(64000) levels.
Manoj Jain, Director of Commodity and Currecny in Prithvi Finmart says both precious metals to remain volatile this week. Silver is trading near make or break levels and if $20.84 is held on a weekly closing basis could show strength again toward $22 per troy ounce in the upcoming sessions. Gold continues to trade sideways between $1800-1860 per troy ounce.
Renisha Chainani, Head-Research, Augmont Gold For All says ”gold will set a new record high in the second half, as the economy slows and inflation remains strong. The most crucial (supportive element) is the potential of present central bank activities causing a hard landing, which means that a U.S. recession could arise before inflation is brought under control, resulting in a period of stagflation, which has historically been bullish for gold. Gold continues to consolidate between Rs 50000 and Rs 51500.”
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According to Jain gold has support at $1814-1800, while resistance at $1844-1858 per troy ounce. Silver has support at $20.84-20.55, while resistance is at $21.44-21.70 per troy ounce. At MCX, gold is having support at 50440-50280 and resistance at 50800-50940 while silver is having support at 59100-58500 and resistance at 60400-61100. He suggest buying gold on dips around 50440 with a stop loss of 50220 on a daily closing basis for the target of 50850
Gold Hallmarked Jewelery Rate per 10 gm in Chandigarh 26 June 2022 (Gold Price Today)
23 carat gold price – Rs 50400
22 carat gold price – Rs 49400
20 carat gold price – Rs 44600
18 carat gold price – Rs 40400
14 carat gold price – Rs 32000
Sone ki Ginni ka Bhav – Rs 40700/ per 8 grams
Silver Price (Silver Price 999.9) – Rs 62300/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.
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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.