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Gold | Silver | 1 March 2023: Gold could face resistance around $1850 and silver around $21.60: Prithvi Finmart

Gold Rate today | Silver price | Gold | Silver | MCX Gold price : Gold, Silver price update for 1 March 2023. 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.

Manoj Jain, Director of Commodity and Currency in Prithvi Finmart says Gold and silver prices showed very high volatility and gold recovered from nine week lows and silver prices also recovered from four month lows in the international markets. Short coverings and bargain buying lift gold and silver prices.

Gold Hallmarked Jewelery Rate per 10 gm in Chandigarh 1 March 2023 (Gold Price Today)
23 carat gold price – Rs 55600/10 gm (Rs 100 Down)
22 carat gold price – Rs 53200
20 carat gold price – Rs 48400
18 carat gold price – Rs 43700
14 carat gold price – Rs 34400
Sone ki Ginni ka Bhav – Rs 43100/ per 8 grams

Gold Rate Today in Dehradun (1 March 2023) (Sarafa Mandal Dehradun)
24 carat gold price (24 carat gold price) – Rs 57500 per 10 grams
23 carat gold price (958 Hallmark gold price) – 55090
22 carat gold price (916 Hallmark gold price) – 52570
20 carat gold price (833 Hallmark gold price) – 47900
18 carat gold price (750 Hallmark gold price) – 43700
14 carat gold price (583 Hallmark gold price) – 34500
Price of gold gin (Sone ki Ginni ka Bhav 8 gram 916 Hallmark) – 44420
Silver Price – Rs 67000 per kg
Silver Coin Hallmarked – Rs 790 per piece

Gold Price in Lucknow issued by Lucknow Sarafa Association
24 carat gold – Rs 58500
22 karat gold – Rs 56800
18 carat gold – Rs 51900
Silver – Rs 67000

Gold Rate in Mumbai (1 March 2023)
Gold 999- Rs 56085
Gold 995- Rs 55860
Gold 916- Rs 51374
Gold 750- Rs 42064
Gold Rs 585- Rs 32810
Silver 999- Rs 64407

According to Jain gold and silver also gained after downbeat U.S. consumer confidence data and Chicago PMI data. The U.S. consumer confidence fell to 102.9 against expectations of 108.5; Chicago PMI also slipped to 43.6 against expectations of a reading of 45.6. Disappointing U.S. economic data support gold and silver prices at lower levels.

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Jain said we have already mentioned in our yesterday’s report that gold could hold its support level of $1800 per troy ounce and silver could also hold $20.20 per troy ounce levels both shows smart recovery as per our expectations. Gold could face resistance around $1850 and silver could face resistance around $21.60 in today’s session.

Jain said gold has support at $1822-1810, while resistance at $1845-1858 per troy ounce. Silver has support at $20.84-20.55, while resistance is at $21.40-21.64 per troy ounce. At mcx, gold is having support at 55550-55365 and resistance at 55900-56080 while silver is having support at 64100-63660 and resistance at 65000-65550. He suggest selling gold on rise around 55950 with a stop loss of 56220 for the target of 55500.

According to Kedia Advisory precious metal is down more than 6% in February, on track for its sharpest monthly decline since June 2021. The U.S. Federal Reserve may hike interest rates to nearly 6%, BofA Global Research said, as strong U.S. consumer demand and a tight labor market would force the central bank to battle inflation for longer.

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Kedia Advisory says China’s net gold imports via Hong Kong in January fell by about 47% from the previous month, Hong Kong Census and Statistics Department data showed. Net imports into the world’s top gold consumer stood at 22.24 tonnes in January, compared with 42.16 tonnes in December, the data showed. Total gold imports via Hong Kong were down about 47.3% to 22.992 tonnes. Premiums on physical gold in top consumer China rose last week, helped by strong demand amid a dip in global rates, while prices in India traded at a discount on improved supplies.

Anuj Gupta, IIFL Fin Sec, Daily Commodity Calls 1 March 2023
BUY MCX GOLD APR AT 55400, SL 55150, TARGET 55950
BUY MCX Silver at 63800, SL 63200, TARGET 65200
BUY MCX COPPER MAR AT 758, SL 754, TARGET 770
BUY MCX CRUDEOIL MAR AT 6300, SL 6200, TARGET 6500
BUY NIFTY AT 17250, SL 17100, Target 17550

Kedia Advisory, Daily morning calls as on Wednesday, 1 March 2023
BUY GOLD APR 2023 @ 55600 SL 55400 TGT 55850-56000.MCX
BUY SILVER MAY 2023 @ 64200 SL 63600 TGT 64900-65500.MCX
BUY CRUDEOIL MAR 2023 @ 6350 SL 6280 TGT 6450-6520.MCX
BUY NAT GAS MAR 2023 @ 216.00 SL 210.00 TGT 222.00-224.00.MCX
BUY COPPER MAR 2023 @ 763.00 SL 758.00 TGT 770.00-775.00.MCX
BUY ZINC MAR 2023 @ 266.00 SL 263.00 TGT 270.00-274.00.MCX
BUY ALUMINIUM MAR 2023 @ 205.00 SL 202.00 TGT 208.00-210.00.MCX
BUY LEAD MAR 2023 @ 182.00 SL 181.00 TGT 183.00-184.00.MCX

Gold Hallmarked Jewelery Rate per 10 gm in Chandigarh 28 February 2024 (Gold Price Today)
23 carat gold price – Rs 55200/10 gm (Rs 100 Down)
22 carat gold price – Rs 52900
20 carat gold price – Rs 48100
18 carat gold price – Rs 43400
14 carat gold price – Rs 34000
Sone ki Ginni ka Bhav – Rs 43700/ per 8 grams
Silver Price (Silver Price 999.9) – Rs 65700/per kg

Gold Rate Today in Dehradun (28 February 2023) (Sarafa Mandal Dehradun)
24 carat gold price (24 carat gold price) – Rs 57300 per 10 grams
23 carat gold price (958 Hallmark gold price) – 54890
22 carat gold price (916 Hallmark gold price) – 52390
20 carat gold price (833 Hallmark gold price) – 47730
18 carat gold price (750 Hallmark gold price) – 43550
14 carat gold price (583 Hallmark gold price) – 34380
Price of gold gin (Sone ki Ginni ka Bhav 8 gram 916 Hallmark) – 44260
Silver Price – Rs 66000 per kg
Silver Coin Hallmarked – Rs 780 per piece

Gold Price in Lucknow issued by Lucknow Sarafa Association
24 carat gold – Rs 58200
22 karat gold – Rs 56500
18 carat gold – Rs 51600
Silver – Rs 67000

Gold Rate in Mumbai (28 February 2023)
Gold 999- Rs 55669
Gold 995- Rs 55446
Gold 916- Rs 50993
Gold 750- Rs 41752
Gold Rs 585- Rs 32566
Silver 999- Rs 63073

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 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 in gold/silver.

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