Gold price today, Silver price, COMEX, MCX Gold price: Gold, Silver price update for 9 May 2022, Monday. Know Views of India’s Big commodity experts like 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 showed very high volatility and dips again after the U.S. Federal Reserve raised key interest rates by 50 basis points last week. The dollar index hit nearly 20 year highs and the benchmark 10-year bond yields in the United States also crossed 3.0% marks.
Strength in the dollar and the U.S. bond yields pushed gold and silver prices lower. Precious metals were also plunged amid sell-off in global financial markets on the prospects of further rate hikes by the U.S. Fed in the upcoming policy meetings.
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However, prices recovered from their lows on Friday after mixed U.S. economic data. Unemployment claims in the U.S. rose again and global inflation concerns also supported precious metals at lower levels.
According to Manoj Jain, Director of Commodity and Currency in Prithvi Finmart both precious metals to remain volatile this week ahead of the U.S. inflation data. Gold has support at $1868-1855, while resistance at $1994-1908 per troy ounce. Silver has support at $22.00-21.84, while resistance is at $22.66-23.00 per troy ounce.
Jain said at MCX, gold is having support at 51180-51050 and resistance at 51500-51660 while silver is having support at 62000-61660 and resistance at 63000-63400. We suggest buying gold on dips around 51150 with a stop loss of 50950 for the target of 51550 and silver around 62100 with a stop loss of 61600 on a closing basis for the target of 63200.
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According to Anuj Gupta, Deputy VP at India Infoline Securities, there is a possibility of a fall in the prices of gold, silver this week. This week, the price of gold on Comex can reach $ 1830. On the other hand, the price of silver can fall to $21.5. On MCX, the price of gold can fall by Rs 50500 and silver by Rs 60000 this week.
Anuj Gupta, VP, IIFL Sec, Daily Commodity Calls 9 May 2022
SELL Gold June at 51500, SL 51850, TARGET 50700
SELL Silver July at 63000, SL 63850, TARGET 61500
Sell MCX Copper May AT 767, SL 773, TARGET 757
Sell MCX Crude Oil May at 8500, SL 8750, TARGET 8200
Buy USDINR may AT 76.80, SL 76.60, TARGET 77.30
Daily Trading Calls 9 May 2022 Kedia Advisory
BUY GOLD JUN 2022 @ 51000 SL 50800 TGT 51300-51500.MCX
BUY SILVER JUL 2022 @ 62000 SL 61400 TGT 62800-63400.MCX
SELL CRUDEOIL MAY 2022 @ 8600 SL 8700 TGT 8450-8350.MCX
SELL NAT GAS MAY 2022 @ 645.00 SL 666.00 TGT 615.00-600.00.MCX
BUY COPPER MAY 2022 @ 758.00 SL 752.00 TGT 766.00-770.00.MCX
BUY ZINC MAY 2022 @ 320.00 SL 315.00 TGT 326.00-328.00.MCX
BUY ALUMINIUM MAY 2022 @ 236.00 SL 233.00 TGT 242.00-246.00.MCX
BUY LEAD MAY 2022 @ 183.00 SL 181.00 TGT 186.00-188.00.MCX
Gold Hallmarked Jewelery Rate per 10 gm in Chandigarh 7 May 2022 (Gold Price Today)
23 carat gold price – Rs 51300
22 carat gold price – Rs 50400
20 carat gold price – Rs 45500
18 carat gold price – Rs 41200
14 carat gold price – Rs 32600
Sone ki Ginni ka Bhav – Rs 41400/ per 8 grams
Silver Price (Silver Price 999.9) – Rs 64800/per kg
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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.
