Gold price today, Silver price, COMEX, MCX Gold price: Gold, Silver price update for 1 April 2022, Friday. 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 showed very high volatility on Thursday and slipped from their highs amid gains in the dollar index and weakness in crude oil. Both precious metals were settled on a slightly positive note in the international markets.
Gold and silver showed very high volatility on Thursday, precious metals opened on a weaker note but lower level buying were seen in mid-trading session after disappointing Chinese manufacturing PMI data and rising unemployment claims in United States but prices slipped from their highs once again in the later evening session after the dollar index gained and crude oil prices slipped to $100 per barrel.
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Chinese manufacturing PMI dips and slipped to 49.5 amid rising covid-19 cases and lockdown in some of the cities. Unemployment claims in the United States rose to 2,02,000 against expectations of 1,95,000 claims and supported precious metals.
However, the Biden administration approved to release 1 million barrels of oil per day from strategic oil reserves for next 180 days to control inflation and oil prices. After this news oil prices slipped again and also triggered profit taking in precious metals.
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Manoj Jain, Director of Commodity and Currency in Prithvi Finmart says both precious metals to remain volatile in today’s session ahead of the U.S. non-farm employment and ISM manufacturing data. Gold is expected to hold $1900 per troy ounce and silver could also hold $24.55 per troy ounce levels.
He said gold is having support at $1922-1908 per troy ounce and resistance at $1945-1958 per troy ounce while silver is having support at $24.84-24.55 per troy ounce and resistance at $25.55-25.80 per troy ounce.
Jain said at MCX, gold is having support at 51950-51720 and resistance at 52350-52580 while silver is having support at 66900-66500 and resistance at 67950-68400. We suggest buying silver on dips around 67000 with a stop loss of 66400 on a closing basis for the target of 68200. Currency markets are closed today.
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Anuj Gupta, IIFL Sec, Daily Commodity Calls 1 April
Buy Gold Apr at 51700, Stop loss 51400, Target 52400
Buy Silver May at 67000, Stop loss 66400, Target 67900
Sell MCX Copper Apr AT 826, Stop loss 832, Target 816
Sell Crude Oil apr at 7900, Stop loss 8210, Target 7500
Ajay Kedia, Kedia Commodity, Daily Commodity Calls 1 April
BUY GOLD 52000, SL 51750, TGT 52400-52600
BUY SILVER 67300, SL 66900, TGT 67900-70500
Gold Hallmarked Jewelery Rate per 10 gm in Chandigarh 31 March 2022 (Gold Price Today)
23 carat gold price – 50800 rupees (100 rupees expensive)
22 carat gold price – Rs 49900
20 carat gold price – Rs 45000
18 carat gold price – Rs 40700
14 carat gold price – Rs 32300
Sone ki Ginni ka Bhav – Rs 41000/ per 8 grams
Silver Price (Silver Price 999.9) – Rs 68500/per kg
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.