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 4 July 2023, Tuesday. Know Views of India’s Big commodity experts like Manoj Jain, Prithvi Finmart, Ajay Kedia, Kedia Commodity and Anuj Gupta of IIFL Fin Sec, Nirmal Bang Securities, Kotak Securities, Motilal Oswal Financial Services, SMC Global Securities 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.
International gold and silver extended its gains on Monday amid short coverings and downbeat ISM manufacturing PMI data. Traders are also looking cautious ahead of the U.S. Independence day holiday. The U.S. ISM manufacturing PMI fell to 46.0 in June month against expected reading of 47.2 and previous month’s reading of 46.9. Decline in the U.S. manufacturing activities supported gold and silver prices. Gold and silver also showed short coverings ahead of the Fed meeting minutes and U.S. job reports scheduled to release later this week.
Manoj Kumar Jain, Director, Prithvi Finmart
‘Gold is holding $1900 per troy ounce levels and silver is also holding $22.50 per troy ounce levels on a closing basis. We expect gold and silver prices to remain shaky this week amid volatility in the dollar index and ahead of the Fed meeting minutes and both side moves are expected. Gold has support at $1914-1904, while resistance at $1940-1955 per troy ounce. Silver has support at $22.80-22.50, while resistance is at $23.35-23.66 per troy ounce.’
Comex Gold and Silver Update by Nirmal Bang Securities 4 July 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.
Geojit London Gold Spot Technical Commentary 4 July 2023
Gold LBMA Spot: A direct rise above $1940 is needed to extend recovery upticks. Else, choppy with mild negative bias trading expected the day.
Silver LBMA Spot: Consistent trades above $23 would lift price further higher. Otherwise choppy trading is on the cards.
MOSt Commodities Daily Report – July 4th, 2023
Data to Watch Today 4 July 2023 (India Time)
04th July 07:30 PM United States Bank Holiday
Gold Ratio
Gold Silver Ratio: 83.48
Gold Crude Ratio: 27.65
Gold London: Gold and Silver Fix
Gold London AM Fix($/oz): 1913.75
Gold London PM Fix($/oz): 1928.75
Silver London Fix($/oz): 22.78
ETF Holdings as on Previous Close
SPDR Gold: 921.90 (Long), -2.60 (Short)
iShares Silver: 14,560.82 (Long), 00 (Short)
Weekly CFTC Positions
Gold($/oz): 122450 (Long), 35978 (Short), 86472 (Net)
Silver: 33921 (Long), 22286 (Short), 11635 (Net)
COMEX Futures Watch (Last Close)
Gold($/oz) Aug 23: 1929.50 Dollar (Close), 0.10 (Change)
Silver($/oz) JUL 23: 23.11 Dollar (Close), 0.09 (Change)
Nirmal Bang Securities Gold Fundamental Outlook For 4 July 2023
Fundamental Outlook: Gold and silver prices are trading flat on international bourses. We expect gold to trade lower for the day with traders weighing a return of risk appetite against fresh signs the US economy is losing steam.
Geojit MCX Gold Technical Commentary
Gold KG Aug: As long as the support of Rs 57500 hold downside, expect recovery momentum. A direct dip below the same would trigger major liquidation pressure
Silver KG Sep: Break above the resistance of Rs 71000 is needed to trigger recovery upticks. Else, it may continue weak trades for the day.
SMC Global Securities Views on MCX Gold and Silver 4 July 2023
‘Gold may trade in the range of 58000-58400, Silver also trades in the range of 69900-70500 where selling near resistance is advised.
Gold prices edged slightly lower in early Asian trade on Tuesday, as traders awaited the U.S. Federal Reserve’s minutes of the June
meeting for more clues on its interest rate hike path ahead.’
Daily Commodity Calls Nirmal Bang Securities 4 July 2023
BUY GOLD AUG (MCX) AT 58200 SL 57950 TARGET 58550/58700
BUY SILVER SEPT (MCX) AT 70200 SL 69500 TARGET 71000/71500
Manoj Kumar Jain, Director, Prithvi Finmart 4 July 2023 Views
‘At MCX, gold is having support at 58080-57850 and resistance at 58450-58660 while silver is having support at 69800-69350 and resistance at 70700-71250. We suggest buying silver on dips around 69800 with a stop loss of 69350 for the target of 70700.’
Kedia Commodity Daily morning calls as on Tuesday, July 4, 2023
BUY GOLD AUG 2023 @ 58100 SL 57900 TGT 58350-58550.MCX
BUY SILVER SEP 2023 @ 69500 SL 68800 TGT 70300-70800.MCX
SELL CRUDEOIL JUL 2023 @ 5850 SL 5950 TGT 5750-5650.MCX
SELL NAT GAS JUL 2023 @ 232.00 SL 238.00 TGT 224.00-220.00.MCX
BUY COPPER JUL 2023 @ 710.00 SL 705.00 TGT 716.00-720.00.MCX
BUY ZINC JUL 2023 @ 212.00 SL 209.00 TGT 216.00-218.00.MCX
BUY ALUMINIUM JUL 2023 @ 194.00 SL 192.00 TGT 197.00-1199.00.MCX
BUY LEAD JUL 2023 @ 182.00 SL 181.00 TGT 183.00-184.00.MCX
Anuj Gupta, VP, IIFL Sec, MCX Commodity Calls 4 July 2023
Buy mcx crudeoil july at 5700 SL 5600 TARGET 5850
Buy MCX GOLD Aug at 58000 SL 57700 TARGET 58500
Buy MCX SILVER 69500 SL 68900 TARGET 70700
BUY MCX COPPER JULY AT 711 SL 706 TARGET 722
BUY NSE NIFTY AT 19250 SL 19100 TARGET 19550
BUY BANKNIFTY AT 44800 SL 44500 TARGET 45400
BUY SENSEX AT 64900 SL 64500 TARGET 65500
SELL USDINR AT 82.10 SL 82.25 TARGET 81.75
Gold Price Today in Carats, fineness and Purity:
24 carat gold price today (Purity 999)- Rs 60200/10 Gram
22 carat gold price today (Purity 916) – Rs 58100/10 Gram
18 carat gold price today (Purity 750) – Rs 45800/10 Gram
14 carat gold price today (Purity 585) – Rs 36000/10 Gram
Silver Price Today (Purity 999) – Rs 72100 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.
