Gold price today, Silver price, COMEX, MCX Gold price: Gold, Silver price update for 6 April 2022, Thursday. 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.
US is heading towards big inflation concern. FOMC meeting minutes shows that Federal Reserve members prefering inflation over growth. The majority of the members agreed for 50 basis point rate hikes and reducing the Federal Reserve balance sheet in the next meeting and maintain the same in a few more meetings thereafter.
Gold and silver showed choppiness on Wednesday as there is no surprise in the FOMC minutes. Gold and silver showed strength in the early trading session on Wednesday but prices slipped from their highs after the Federal Reserve maintained its hawkish stance in its March meeting minutes.
The FOMC minutes showed members see a total monthly drawdown of $95 billion of U.S. securities (quantitative tightening). The Federal Reserve members showed more concerns about inflation rather than on the growth. The Russia-Ukraine conflict heats up inflation and the pressure remains to continue in coming months.
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Hawkish stance of the Federal Reserve supported the dollar and U.S. bond yields and restricted gains of precious metals. However, Russia-Ukraine conflict, higher inflation pressure and slower economic growth prospects are supporting precious metals at lower levels.
Manoj Jain Commodity Expert and Director in Prithvi Finmart says he expect gold and silver to continue to hold its key support level of $1900 per troy ounce and $24 per troy ounce respectively. Gold has support at $1910-1900 per troy ounce and resistance at $1934-1945 per troy ounce while silver is having support at $24.20-24.00 per troy ounce and resistance at $24.70-25.00 per troy ounce.
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According to Jain at mcx, gold is having support at 51400-51220 and resistance at 51770-51900 while silver is having support at 65900-65550 and resistance at 66660-67100. He suggest buying gold on dips around 51350 with a stop loss of 51180 on a closing basis for the target of 51800 and buy silver on dips around 66000 with a stop loss of 65550 on a closing basis for the target of 67100.
Anuj Gupta, IIFL Sec, Daily Commodity Calls 7 April
Buy Gold June at 51400 SL 51150 TARGET 52000
Buy Silver May at 66000 SL 65250 TARGET 67000
Sell MCX Copper Apr AT 822 sl 827 target 810
Sell crude oil apr at 7500 SL 7810 TARGET 7100
Buy USDINR apr AT 75.80 SL 75.60 TARGET 76.20
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Gold Hallmarked Jewelery Rate per 10 gm in Chandigarh 6 April 2022 (Gold Price Today)
23 carat gold price – 51000 rupees
22 carat gold price – Rs 49900
20 carat gold price – Rs 45200
18 carat gold price – Rs 40900
14 carat gold price – Rs 32400
Sone ki Ginni ka Bhav – Rs 41100/ per 8 grams
Silver Price (Silver Price 999.9) – Rs 68100/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.
