Gold price today, Silver price, Comex Gold price: Gold and silver price plunged on Wednesday after the dollar index gained and reached to two year highs. Know 24, 22 carat gold, 18 carat gold rate, 14 carat gold price and silver price for 3 March 2022, Thursday. Know Views of Prithvi Finmart, Kedia Commodity and IIFL Sec on Gold, silver prices. Silver price in Lucknow today reaches Rs 70000 Per KG mark.
Hallmarked Gold Jewellery Price per 10 gm in Chandigarh 3 March 2022
23 carat gold price – Rs 51700
22 carat gold price- Rs 50000
20 carat gold price – Rs 45800
18 carat gold price – Rs 41600
14 carat gold price – Rs 32500
Gold Ginni Price – Rs.41300 per 8 grams
Silver Price 999.9)- Rs 69100/kg
According to the Lucknow Sarafa Association, today, on March 3, 2022, the price of gold became cheaper by Rs 100 in Lucknow. The price of 24 carat gold was Rs 54200, the price of 22 carat was Rs 52700 and the price of 18 carat gold was Rs 47900. The price of silver became costlier by Rs 1000 and stood at Rs 70000.
Geopolitical tension, high crude prices, fear of inflation are supportive for yellow metals. Demand of Gold ETF also increased. It is increased by 46.3 ton worth of $2.7 billion in January 2022. Selloff in equity and depreciation in currency turned the investors towards yellow metal as safe haven asset. Anuj Gupta of IIFL Sec says Gold may test $1965 to $1980 levels and silver may test $27 to $30 soon.
The U.S. ADP non-farm employment data released on Wednesday were also better than expected. 4,75,000 new jobs were created against expectations of the 3,75,000 jobs. However, dovish comments of the Federal Reserve Chairman in its testifies with the U.S. house panel supported precious metals at lower levels. He favour 0.25% rate hike in March meeting against 0.50% expected earlier. He makes his stance soft due to ongoing Russia-Ukraine war.
Gold and silver showed profit taking on Wednesday amid strong gains in the dollar index and upbeat U.S. ADP non-farm employment data. Both precious metals were settled on a weaker note in the international markets.
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Gold April futures contract were settled at $1922.30 per troy ounce with a loss of 1.11% and silver May futures contract were settled at $25.19 per troy ounce with a loss of 1.37%. Domestic markets were also settled on a weaker note. Gold April futures contract were settled at 51294 per 10 gram with a loss of 1.01% and silver May futures contract were settled at 67667 per one kilogram with a loss of 0.75%.
Manoj Jain, Director of Commodity and Currency in Prithvi Finmart expect both precious metals could show strength again in today’s session amid Russia-Ukraine ceasefire talks fail and record gains in international oil prices. WTI crude oil hit fresh 8.5 year highs on Wednesday and could support precious metal prices. Gold could test $1945 per troy ounce and silver could also test $25.55 per troy ounce levels in today’s session.
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Jain Said gold is having support at $1910-1896 per troy ounce and resistance at $1933-1945 per troy ounce while silver is having support at $25.00-24.70 per troy ounce and resistance at $25.40-25.55 per troy ounce.
Manoj Jain said MCX, gold is having support at 51000-50750 and resistance at 51600-51880 while silver is having support at 67200-66660 and resistance at 68200-68800 levels.
He suggest buying gold on dips around 51100 with a stop loss below 50800 on a closing basis for the target of 51700 and silver around 67300 with a stop loss below 66660 on a closing basis for the target of 68500.
Anuj Gupta, IIFL Sec, Daily Commodity Calls- 3 March 2022
BUY Gold Apr at 51000, SL 50500, TARGET 52200
BUY Silver May at 67500, SL 66500, TARGET 69000
BUY MCX Copper Mar AT 790, SL 780, TARGET 805
BUY Crude oil Mar at 8200, Sl 8050, TARGET 8400
BUY USDINR FEB AT 75.80 SL 75.40 TARGET 76.40
Ajay Kedia, Kedia Commodity, Daily Calls 3 March 2022
BUY GOLD 51000 SL 50700 TGT 51600
BUY SILVER 67300 SL 66700 TGT 67800
Hallmarked Gold Jewellery Price per 10 gm in Chandigarh 2 March 2022
23 carat gold price – Rs 51900
22 carat gold price- Rs 50300
20 carat gold price – Rs 46000
18 carat gold price – Rs 41700
14 carat gold price – Rs 32600
Gold Ginni Price – Rs.41400 per 8 grams
Silver Price 999.9)- Rs 69500/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.
