What is Gold Price Today | What is Silver Rate today | COMEX Gold | Gold | Silver | Comex Group | Comex Group Gold, IBJA, IBJA Gold Price: Know outlook of Comex gold and silver by Prithvi Finmart, Kedia Commodities COMEX Gold and MCX Gold. Check 24, 22, 18, 14 Carat Gold price today and Silver price 5 September 2024, Thursday.
On Wednesday, gold and silver ended on a positive note in the international markets. The Gold December futures contract closed at $2,526.00 per troy ounce, up by 0.12%, while the Silver December futures contract settled at $28.557 per troy ounce, gaining 0.75%. Domestic markets mirrored this trend, with Gold October futures closing at ₹71,466 per 10 grams, up by 0.12%, and Silver December futures closing at ₹83,565 per kilogram, with a 0.38% increase.
Both gold and silver experienced significant price volatility, initially falling during early trading but recovering from their lows after the U.S. JOLTS job openings data revealed a decline to the lowest level since January 2021. This decline in job openings weakened the dollar index and lowered U.S. 10-year bond yields, supporting the recovery of gold and silver prices. Additionally, short covering and bargain buying at lower levels ahead of U.S. job data further boosted the prices.
The un-inverted U.S. yield curve also signals a healthier U.S. economy, avoiding a recession, which provided additional support for precious metals. According to Manoj Kumar Jain, Director of Prithvi Finmart, gold and silver prices are expected to remain volatile this week due to fluctuations in the dollar index and the anticipation of U.S. job data. However, both metals are likely to hold their key support levels of $2,464 and $27.80 per troy ounce, respectively.
Jain further predicts that gold has support at $2,508-$2,494, with resistance at $2,540-$2,554 per troy ounce, while silver has support at $28.20-$27.88 and resistance at $28.88-$29.20 per troy ounce for today’s session. In the MCX market, gold has support at ₹71,220-₹70,950 and resistance at ₹71,660-₹71,880, while silver has support at ₹83,100-₹82,550 and resistance at ₹84,200-₹84,850. Jain advises buying silver on dips around ₹83,150 with a stop loss of ₹82,600 for a target of ₹84,200
Thursday September 05 2024
05:45 PM S ADP Employment Change AUG
06:00 PM US Initial Jobless Claims AUG/31
07:15 PM US S&P Global Composite PMI Final AUG
07:30 PM US ISM Services PMI AUG
Geojit Group View on Gold and Silver Prices
Gold LBMA Spot
It is required to break above $2530 to extend rallies. Else, choppy trades expected the day.
Silver LBMA Spot
Choppy with mild negative bias expected while prices stay below $28.50.
MCX Gold KG Oct
Inability to move past Rs 71000 there are chances of mild recovery upticks for the day.
MCX Silver KG Dec
Consistent trades above Rs 82000 likely extend upticks.
Kedia Commodity View on Gold Silver Price 5 Sept 2024
GOLD – 71466
Resistance: 71735-72005-72415
Support: 71055-70645-70375
SILVER – 83565
Resistance: 84200-84840-85645
Support: 82755-81950-81310
GOLD$ – 2495.88
Resistance: 2505.98-2517.18-2528.38
Support: 2477.8-2460.82-2449.62
SILVER$ – 28.2715
Resistance: 28.49-28.72-28.94
Support: 27.9-27.54-27.32
IBJA Gold Price Today in Carats, fineness and Purity:
Without GST
Gold
999 Rs 71295
995 Rs 71010
916 Rs 65306
750 Rs 53471
585 Rs 41708
Silver
999 Rs 81337
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Note: The prices listed on Gold Price Today are sourced from various jewellers and bullion associations across the country. The price of gold and silver in your city may vary, as local jewellers add GST, making charges, and hallmarking fees to the base price. Additionally, many jewellers charge a premium for their brand, leading to differences in gold and silver prices at different shops.
Disclaimer: The information in this article is intended for informational purposes only and reflects the views of the expert. Before making any investment decisions, it is recommended to seek the advice of a financial advisor. The individuals associated with Gold Price Today do not engage in the personal buying, selling, or trading of gold or silver. We cannot be held liable for any gains or losses incurred.
