Gold Price COMEX, Gold rate today, Silver Price: Gold and silver showed solid gains on Monday amid heightened tensions between Russia-Ukraine and inflation fears. Precious metals and dollars are catching the safe haven demand once again. Gold prices reached 8 month highs of 1878 Dollar. At MCX Gold price reached at 13 Month high of Rs 50323. Uncertainty over Russia and Ukraine is supported safe haven buying in precious metals
Higher inflation fears due to rising global energy prices are also supporting precious metals. Global equity markets plunged once again amid anticipation of faster rate hikes by the U.S. Federal Reserve and geo-political tensions and supported safe haven assets. COMEX gold prices are heading towards $1900 per troy ounce at and silver prices are inching closer to $24 per troy ounce.
In Lucknow, 24 carat gold price increase Rs 600 to Rs 52800, 22 carat gold by Rs 55130, 18 carat gold by Rs 46600 and silver price increase Rs 1000 to Rs 67000.
Gold and silver extended its gain on Monday amid Russia-Ukraine tensions and sell-off in global equity markets. Both precious metals were settled on a positive note in the international markets. Gold April futures contract were settled at $1869.40 per troy ounce with a gain of 0.48% and silver March futures contract were settled at $23.85 per troy ounce with a gain of 1.09%.
Federal Reserve Emergency meeting held on 14 Feb 2022 was a closed door board meeting. After Meeting Federal Reserve issued a statement saying ‘ On Monday, February 14, 2022 at 11:30 a.m., a meeting of the Board of Governors of the Federal Reserve System was held under expedited procedures, as set forth in section 261b.7 of the Board’s Rules Regarding Public Observation of Meetings, via audio/video conference call, to consider the following matters of official Board business.’
Board considered matter related to ‘Review and determination by the Board of Governors of the advance and discount rates to be charged by the Federal Reserve Banks.’
Board meeting outcome is still not known but The New York Times reported that Federal Reserve Bank of St. Louis president, James Bullards ”reiterated that he would like to see a rapid pace of increases, taking rates to about 1 percent by July — but he did not repeat that an increase in between meetings might be a good idea, saying instead said the Fed needs to react to data in an “organized” way.”.
Federal Reserve in a statement said ‘Effective February 14, 2022, the meeting was closed to public observation by Order of the Board of Governors1 because the matters fall under exemption(s) 9(A)(i) of the Government in the Sunshine Act (5 U.S.C. Section 552b(c)), and it was determined that the public interest did not require opening the meeting.’
Due to weakness in the rupee both precious metals were also settled on a positive note in the India’s domestic markets. At MCX Gold April futures contract were settled at 49916 per 10 gram with a gain of 1.63% and silver March futures contract were settled at 64233 per one kilogram with a gain of 1.98%.
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Despite expectations of aggressive rate hikes by the U.S. Federal Reserve, both precious metals are showing strength. Manoj Jain, Director of Commodity and Currency in Prithvi Finmart says both precious metals to remain positive in today’s session and could extend their gains. Buy on dips strategy will work in both precious metals.
Jain Said at COMEX Gold is having support at $1858-1845 per troy ounce and resistance at $1884-1892 per troy ounce while silver is having support at $23.55-23.20 per troy ounce and resistance at $24.00-24.44 per troy ounce.
United Nations Secretary-General Antonio Guterres said he was deeply worried about increased speculation about a military conflict, and urged world leaders to step up diplomacy to calm the situation. Washington had said Russia could invade Ukraine any day now, and British Prime Minister Boris Johnson on Monday called the situation very, very dangerous.
Jain said he expect the dollar index to remain volatile in today’s session amid speculation on Russia-Ukraine tensions and it could test 96.40-96.60 levels.
In India gold price today increase around Rs 800 per 10 gram Chandigarh City. In Dehradun gold price today increase Rs 600. Silver price gained Rs 1000 per kg.
Hallmarked Gold Jewellery Price per 10 gm in Chandigarh 15 February 2022
23 carat gold price – Rs 50500 (Rs 800 Increased)
22 carat gold price – Rs 48900
20 carat gold price – Rs 44800
18 carat gold price – Rs 40600
14 carat gold price – Rs 31800
Gold Ginni Price – Rs.40300per 8 grams
Silver Price 999.9)- Rs 66800/kg (Rs 800 Increased)
Gold Rate Today in Dehradun
24 carat gold price – Rs 51750 per 10 grams (Rs 600 Increased)
23 carat gold price – 49580
22 carat gold price – 47300
20 carat gold price – 43110
18 carat gold price – 39330
14 carat gold price- 31050
Gold Ginni – 39980
Silver Price – Rs 67000 per kg (Rs 1000 Increase)
Silver Coin Price – Rs 790 per piece
On the other hand, the rupee plunged again amid strength in the dollar index and record gains in crude oil prices. Sell-off of foreign institutional investors in the domestic equity markets also pushed a rupee lower. Brent crude oil crossed $95 a barrel in the international markets and bond yields of the U.S. and European countries are rapidly rising and also pressured a rupee.
Investors are turned cautious and moving from riskier assets to safe-haven assets. Manoj Jain of Prithvi Finmart says rupee to remain weak this week and expect to test its support level of 76.0000 again.
According to Jain In India at MCX, gold is having support at 49700-49440 and resistance at 50200-50500 while silver is having support at 63660-63200 and resistance at 64700-65200 levels.
Manoj Jain suggest buying MCX Gold above 50,000 with a stop loss below 49,700 on a closing basis for the target of 50,500 and MCX Silver around 64000 with a stop loss below 63400 on a closing basis for the target of 65,200.
Anuj Gupta, IIFL Sec, Daily Commodity Calls-15 February 2022
Buy Gold April at 49800, Stop loss 49450, Target 50500
Buy Silver March at 64000, Stop loss 63350, Target 65200
Buy MCX Copper Feb at 764, Stop loss 757, Target 775
Buy Crude Oil Feb at 7020, Stop loss 6920, Target 7190
Buy USDINR Feb at 75.40, Stop loss 74.18, Target 75.90
IIFL Sec Says Gold Price may touch 1920 Dollar on COMEX, Know Why
Hallmarked Gold Jewellery Price per 10 gm in Chandigarh 14 February 2022
23 carat gold price – Rs 49700
22 carat gold price – Rs 48300
20 carat gold price – Rs 44100
18 carat gold price – Rs 40000
14 carat gold price – Rs 31300
Gold Ginni Price – Rs.49800/per 8 grams
Silver Price 999.9)- Rs 66000/kg
At COMEX gold prices is trading at 1873 Dollar (4.5 Dollar Up). Silver is trading at 23.93 Dollar (0.08 up) in morning.
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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.
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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.
