Gold Rate today | What is Silver price | Gold | Silver | MCX Gold price | Comex Group | Comex Group Gold Price | London Spot: Gold Price, Silver price update for 19 June 2023, Monday. Know Views of India’s Big commodity experts like Manoj Jain, Prithvi Finmart, Sugandha Sachdeva Acme Investment Advisors, Ajay Kedia, Kedia Commodity and Anuj Gupta of IIFL Fin Sec, Nirmal Bang Securities, Kotak Securities, Motilal Oswal Financial Services and Geojit on Comex 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 Group and MCX.
Comex gold and silver showed very high volatility and recovered from their lows after sell-off in the dollar index and an increase in the U.S. jobless claims. The dollar index slipped to six week lows after FOMC meeting outcomes and cool-off in the U.S. 10-year bond yields. The U.S. unemployment claims surged again in the last week to 2,62,000 against expectations of 2,46,000 claims and supported precious metals at lower levels.
The European Central Bank increased its interest rates by 25 basis points once again and supported the euro and other peer currencies and pushed the dollar index lower. Global economic data released last week were mixed and supportive for precious metals.
Manoj Kumar Jain, Director, Prithvi Finmart 19 June 2023 Comex Gold and Silver Update
‘We expect gold and silver prices to remain volatile this week and gold could hold its support level of $1934 per troy ounce and silver could also hold $23.50 per troy ounce on a closing basis. Gold has support at $1958-1945, while resistance at $1984-1996 per troy ounce. Silver has support at $23.70-23.50, while resistance is at $24.25-24.55 per troy ounce. At mcx, gold is having support at 59100-58880 and resistance at 59550-59770 while silver is having support at 72200-71650 and resistance at 73200-73750. We suggest buying gold on dips around 59100 with a stop loss of 58840 for the target of 59660. Silver is expected to trade in a range of 71800-73300.’
Comex Gold and Silver Update by Nirmal Bang Securities 19 June 2023
‘Gold prices are supported at lower levels like 1940-44 and likely to test 1970-90. We are recommending to buy on dips around 1955-50 for a target of 1970-80.We recommend buying around 23.50-40 for a target of 24.60-80.’
Ravindra V.Rao, CMT, EPAT, VP-Head Commodity Research, Kotak Securities Ltd
‘US weekly jobless claims came much higher than expectations, showing signs of cooling Labour market, while industrial output, manufacturing output and capacity utilization came in below estimates, indicating a slowdown in the Manufacturing sector. US Housing data, Flash Manufacturing PMIs, Powell’s testimony and speeches from several Fed officials will be in focus for the week. Hawkish Fed rhetoric might weigh down on the gold prices during the first half of the week, however prices might rebound towards the second half if PMIs and unemployment claims show signs of economic weakness.”
Ajay Kedia Director Kedia Commodity Comex Gold Levels
GOLD – $1957.72
Resistance: 1965.2-1972.6-1977.9-1984.8
Support: 1952.4-1947-1939.6-1932.7
SILVER – $24.19
Resistance: 24.31-24.43-24.67-24.84
Support: 23.96-23.72-23.61-23.44
Rahul Kalantri, VP Commodities, Mehta Equities
‘We expect gold and silver to remain volatile in today’s session. Gold has support at $1947-1936 while resistance is at $1967-1974. Silver has support at $23.94-23.82, while resistance is at $24.34-24.48.’
Motilal Oswal Financial Services (MOFSL) Commodity Report 19 June 2023
Data to Watch Today 19 June 2023 (India Time)
19th June United States Bank Holiday
Gold Ratio
Gold Silver Ratio: 80.99
Gold Crude Ratio: 27.46
Gold London: Gold and Silver Fix
Gold London AM Fix($/oz): 1964.10
Gold London PM Fix($/oz): 1959.75
Silver London Fix($/oz): 23.99
ETF Holdings as on Previous Close
SPDR Gold: 929.70 (Long), 00 (Short)
iShares Silver: 14,420.90 (Long), 00 (Short)
Weekly CFTC Positions
Gold($/oz): 126927 (Long), 33623 (Short), 93304 (Net)
Silver: 40237 (Long), 25600 (Short), 14637 (Net)
COMEX Futures Watch (Last Close)
Gold($/oz) Aug 23: 1971.20 Dollar (Close), 1.80 Dollar (Change)
Silver($/oz) JUL 23: 24.34 Dollar (Close), -0.16 (Change)
Nirmal Bang Securities Outlook For 19 June 2023
‘Gold and silver prices are trading lower on international bourses as prospect of more monetary tightening and ebbing haven demand are subduing prices. We expect gold to trade sideways to lower for the day on signs the Federal Reserve and the European Central Bank will keep raising interest rates, a negative for non-interest-bearing gold.’
Daily Commodity Calls Nirmal Bang Securities 19 June 2023
BUY GOLD AUG (MCX) AT 59200 SL 58950 TARGET 59500/59700
BUY SILVER JULY (MCX) AT 72300 SL 71600 TARGET 73200/73700
Anuj Gupta, VP, IIFL Sec, Daily Commodity Calls 19 June 2023
BUY MCX CRUDEOIL JULY AT 5800 SL 5650 TARGET 6100
BUY MCX GOLD AUG AT 59100 SL 58750 SL 59750
BUY MCX SILVER JULY AT 72200 SL 71600 TARGET 73200
BUY MCX COPPER JUNE AT 727 SL 722 TARGET 738
BUY NIFTY AT 18750 SL 18650 TARGET 18950
BUY BANKNIFTY AT 43600 SL 43200 TARGET 44200
BUY SENSEX AT 63000 SL 62600 TARGET 63700
SELL NSE USDINR AT 82, SL 82.20 TARGET 81.70
Manoj Jain, Director, Prithvi Finmart
‘At MCX, gold is having support at 59100-58770 and resistance at 59550-59800 while silver is having support at 71650-71100 and resistance at 72750-73300. We suggest buying silver on dips around 71650 with a stop loss of 71100 for the target of 72600.’
Kedia Commodity MCX Gold, Silver Levels
MCXBULLDEX – 16070
Resistance: 16118-16165-16219
Support: 16017-15963-15916
GOLD – 59354
Resistance: 59528-59702-59849
Support: 59207-59060-58886
SILVER – 72688
Resistance: 73148-73607-74170
Support: 72126-71563-71104
Gold Price Today in Carats, fineness and Purity:
24 carat gold price today (Purity 999)- Rs 61150/10 Gram
22 carat gold price today (Purity 916) – Rs 56600/10 Gram
18 carat gold price today (Purity 750) – Rs 46500/10 Gram
14 carat gold price today (Purity 585) – Rs 36600/10 Gram
Silver Price Today (Purity 999) – Rs 75100 per kg
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Note: The prices being given 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 jewellers add GST, making charges and hallmarking charges to the gold price. Many jewellers 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: The information presented in this article is i intended for informational purposes only and reflects the views of the expert. Prior to making any investment decisions, it is recommended that you seek the advice of a financial advisor. The individuals affiliated with Gold Price Today do not engage in the personal buying, selling, or trading of gold/silver. We cannot be held liable for any gains or losses incurred.