Gold price today, Silver price, COMEX, MCX Gold price: Gold, Silver price update for 23 March 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 gave a rollers-coaster move on Tuesday amid Federal Reserve plans for aggressive rate hikes and gains in the U.S. bond yields. Both precious metals were settled on a weaker note in the international markets.
Record gains in the U.S. bond yield pushed precious metals lower. The benchmark 10-year bond yields in the United States crossed the 2.40% mark for the first time since May 2019. The Federal Reserve Chairman’s hawkish comments at a NABE speech on Monday also pushed precious metals lower.
He said the Federal Reserve is prepared to raise 50 basis points in the next meeting if required to control inflation. Controlling inflation is more important than economic growth. Selling was seen in the U.S. bonds after his statements and the U.S. equity markets unexpectedly gained. There is no major change in the Russia-Ukraine war.
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The U.S. President Biden is scheduled to meet with NATA and EU leaders on Thursday to discuss on the ongoing war and market is eyeing outcomes of this meeting.
Manoj Jain, Director of Commodity and Currency in Prithvi Finmart expect both precious metals to remain volatile in today’s session and gold could hold $1900 per troy ounce and silver could also hold $24.40 per troy ounce levels on a closing basis.
Anuj Gupta, VP in IIFL Sec says in international market Gold may test $1955 & Silver may test $26 levels soon.
Jain said gold has support at $1908-1900 per troy ounce and resistance at $1933-1945 per troy ounce while silver has support at $24.64-24.40 per troy ounce and resistance at $25.20-25.55 per troy ounce. At MCX, gold is having support at 51220-51000 and resistance at 51620-51800 while silver is having support at 67220-66900 and resistance at 68100-68800 levels. He suggest buying gold on dips around 51150 with a stop loss of 50980 for the target of 51600.
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Anuj Gupta, IIFL Sec, Daily Commodity Calls 23 March 2022
Buy Gold Apr at 51000, SL 50750, Target 51600
Buy Silver May at 67000, SL 66300, Target 68000
Buy MCX COPPER Mar AT 810, SL 800, Target 825
Buy crude oil apr at 8200 Sl 8000, Target 8500
Sell USDINR Mar AT 76.40 SL 76.60, Target 75.90
Ajay Kedia, Kedia Commodity, Daily Commodity Calls 23 March 2022
BUY GOLD Apr 2022 at 51200, stop loss 51000, Target 51550-51850
BUY SILVER May 2022 at 67400, Stop Loss66800, Target 68400
Gold Hallmarked Jewelery Rate per 10 gm in Chandigarh 22 March 2022 (Gold Price Today)
23 carat gold price – 50800 rupees (100 rupees expensive)
22 carat gold price – Rs 49700
20 carat gold price – Rs 44900
18 carat gold price – Rs 40700
14 carat gold price – Rs 32100
Sone ki Ginni ka Bhav – Rs 41100/ per 8 grams
Silver Price (Silver Price 999.9) – Rs 70200/per kg (expensive by Rs 200)
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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. Gold Price Today will not be responsible for any loss caused to you.