Gold price today, Silver price, COMEX Gold price: Gold and Silver price gained last week. Know Views of India’s Big commodity experts like Anuj Gupta of IIFL Sec and Manoj Jain of Prithvi Finmart on gold and silver. Check 24, 22 carat gold, 18 carat gold rate, 14 carat gold price and silver price.
Anuj Gupta, VP of Commodity and Currency in IIFL Sec says Geopolitical tension and higher inflation support the commodities as investment and safe haven demand. Gupta said for next week we are expecting the same up trend in the commodities.
Despite strength in the dollar index gold and silver gained last week. Global equity markets also plunged and investors are moving from riskier assets to safe haven assets. Gold prices crossed $1970 per troy ounce amid fresh sanctions on the Russia by western countries. Record global energy prices are also supporting precious metals.
Director of Commodity and Currency in Prithvi Finamart expect gold prices could cross $2000 per troy ounce levels and silver could also test $26.80 per troy ounce levels in the upcoming sessions. Any dip in the prices would be buying opportunity in precious metals.
Jain said gold has support at $1955-1938, while resistance at $1988-2000 per troy ounce. Silver has support at $25.55-25.20, while resistance is at $26.30-26.80 per troy ounce.
According to Anuj Gupta Gold has a support at $1930 / $1880 ( MCX 51000 / 49500) levels, resistance at $2020 / $2080 (MCX 53800 / 55000) levels. He recommend to buy Gold around 51500 with the stop loss of 49500 for the target of 54000 to 55000 levels on MCX. He suggest buying silver at 66500 to 67000 levels with the stop loss of 63000 levels for the target 73000 to 75000 levels on MCX.
Jain said MCX gold is having support at 52240-51900 and resistance at 52880-53100 and silver is having support at 68500-68100 and resistance at 69800-70400.
Manoj Jain suggest buying gold above 52600 with a stop loss below 52300 on a closing basis for the target of 53200 and silver above 69200 with a stop loss below 68500 on a closing basis for the target of 70400.
In Brent Crude traders can buy crude oil around $110 to $112 levels for the target of $125 to $132 levels and stop loss would be $98 levels. Copper may also test 870 to 900 levels on MCX. Shortage of supply and higher energy prices provide fuel to the base metals.
Gupta said Geopolitical tension, sanctions over Russia, sell off in equity market coupled with depreciation in currency increased demand of commodities as safe haven and hedge against inflation and uncertainty.
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Russia and Ukraine War impacting Gold and Silver price. The price of gold and silver is increasing continuously. Last week, the price of gold in Lucknow became expensive by Rs 1700. At the same time, in Chandigarh, the price of gold became expensive by Rs 1400 in a week. Gold became costlier by Rs 1,450 in the last 7 days in Dehradun.
The price of silver also increased in the last one week. Silver prices rose to Rs 4000 per kg in Lucknow in a week. At the same time, the price of silver in Chandigarh and Dehradun became expensive by about Rs 3000. On IBJA (India Bullion and Jewelers Association Ltd), the price of gold became expensive by Rs 894 and silver by Rs 2577 in 1 week.
Anuj Gupta, IIFL Sec, Daily Commodity Calls 7 March
BUY Gold Apr at 52500 SL 52000 TARGET 53500
BUY silver May at 69000 SL 67500 TARGET 72000
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Gold————-5 March——–28 February——–Price Increase
Dehradun——53900———–52450————–1450 (24 carat)
Chandigarh—52500————51100————-1400 (23 carat)
Lucknow——55200————-53500————-1700 (24 carat)
IBJA———–51784————-50890————–894 (4 March)
Silver———–5 March——–28 February——–Expensive price
Dehradun—–70000————67000—————–3000
Chandigarh—70000———–66800——————3200
Lucknow——71500————67500—————–4000
IBJA————67931————–65354—————2577
Hallmarked Gold Jewellery Price per 10 gm in Chandigarh 5 March 2022
23 carat gold price – Rs 52500
22 carat gold price- Rs 50900
20 carat gold price – Rs 46600
18 carat gold price – Rs 42200
14 carat gold price – Rs 32100
Gold Ginni Price – Rs.42000 per 8 grams
Silver Price 999.9)- Rs 70000/kg
Gold Price Today in Dehradun 5 March 2022
24 carat gold price – Rs 53900 per 10 grams
23 carat gold price – 51640
22 carat gold price – 49270
20 carat gold price – 44900
18 carat gold price – 40960
14 carat gold price- 32340
Gold Ginni – 41640
Silver Price – Rs 70000 per kg
Silver Coin Price – Rs 820 per piece
Last week MCX gold prices increased sharply by 4.66% and closed at 52559 levels. COMEX Spot Gold prices also increased by 4.30% and closed at $1970.35. MCX Silver prices increased sharply by 6.56% and closed at 7 month high level of 69160 levels. COMEX Spot silver prices also increased by 5.93% and closed at 7 month high level of $25.68 levels.
Gold and Silver price of 4 March 2022
MCX Crude oil prices were also closed at biggest weekly gain of 25.46% high at 8580 levels. In this week it touched the life time high of 8817 levels. Brent also touched 10 yr high level of $119.77 per barrel.
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.