What is Gold Rate today | What is Silver price | Gold | Silver | MCX Gold price | Comex Group: Gold Price, Silver price update for 20 April, Thursday. Know Views of India’s Big commodity experts like Manoj Jain, Prithvi Finmart, Market and Commodity Expert Sugandha Sachdeva, Ajay Kedia, 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 Group and MCX.
Manoj Jain, Director in Prithvi Finmart says ”gold and silver showed very high volatility and plunged in the early trading session amid gains in the dollar index but recovered from their lows in the late evening session. The U.S. Fed non-voting members argued in favour of further interest rate hikes. Fed Bank of Atlanta President Raphael Bostic told CNBC he would like to see one more rate hike and then hold rates above 5% for a period of time to cool down inflation.
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According to Jain ”meantime, Fed Bank of St Louis President James Bullard told Reuter’s recession fears are overblown and that he supports U.S. rates to rise into a 5.5-5.75% range up from the current range of 4.75-5.0%. Hawkish comments from the Fed officials pushed gold and silver prices lower. But prices recovered from their lows in the evening session after a report from the silver institute suggested that demand for silver rose by 18% last year to a record high of 1.24 billion ounces. Gold prices also recovered after recovery in the silver prices. ”
Jain expect ”gold and silver prices to remain volatile in today’s session amid volatility in the dollar index. Gold has support at $2004-1988, while resistance at $2035-2050 per troy ounce. Silver has support at $25.00-24.66, while resistance is at $25.50-25.70 per troy ounce. At MCX, gold is having support at 60060-59850 and resistance at 60500-60720 while silver is having support at 74850-74400 and resistance at 75900-76500.” He suggest selling gold on rise around 60500 with a stop loss of 60720 for the target of 60000.
According to Ajay Kedia ‘the Silver Institute reported that global silver demand reached a new peak of 1.24 billion ounces in 2022, an increase of 18% from the previous year.”
Some Highlights of the Silver Institute report are:
- Silver demand hit 1.24 billion ounces in 2022, up 18% year-on-year
- Silver market faced record deficit of 237.7 million ounces in 2022, erasing previous surpluses
- Silver Institute forecasts another deficit of 142.1 million ounces in 2023
- Silver prices expected to average $21.30 an ounce in 2023, slightly lower than 2022
- Silver demand driven by jewellery, industry and investment, especially in India
- Silver supply constrained by limited mine production and recycling
Anuj Gupta, IIFL Fin Sec, Daily Commodity Calls 20 April 2023
BUY MCX GOLD JUNE AT 60000, SL 59750, TARGET 60500
BUY MCX Silver may 75000, SL 74350, TARGET 76000
BUY MCX COPPER APR AT 775, SL 769, TARGET 785
BUY MCX CRUDEOIL May AT 6500, SL 6340, TARGET 6700
Kedia Advisory, Daily morning calls as on Wednesday, 20 April 2023
SELL GOLD JUN 2023 at 60450, SL 60650, TGT 60200-60000.MCX
SELL SILVER MAY 2023 at 75800, SL 76400, TGT 75000-74500.MCX
SELL CRUDEOIL MAY 2023 at 6650, SL 6750, TGT 6540-6480.MCX
BUY NAT GAS APR 2023 at 180.00, SL 175.00, TGT 185.00-188.00.MCX
SELL COPPER APR 2023 at 782.00, SL 787.00, TGT 776.00-772.00.MCX
SELL ZINC APR 2023 at 251.00, SL 254.00, TGT 247.00-245.00.MCX
SELL ALUMINIUM APR 2023 at 216.00 SL 219.00, TGT 212.00-210.00.MCX
SELL LEAD APR 2023 at 184.00, SL 185.00, TGT 183.00-182.00.MCX
Gold Hallmarked Jewelery Rate per 10 gm in Chandigarh 19 April 2023 (Gold Price Today)
23 carat gold price – Rs 59400/10 gm
22 carat gold price – Rs 57000
20 carat gold price – Rs 51700
18 carat gold price – Rs 46700
14 carat gold price – Rs 36600
Sone ki Ginni ka Bhav – Rs 47100/ per 8 grams
Silver Price – Rs 76900 Per KG
Gold Rate Today in Dehradun (19 April 2023) (Sarafa Mandal Dehradun)
24 carat gold price (24 carat gold price) – Rs 62200 per 10 grams
23 carat gold price (958 Hallmark gold price) – 59590
22 carat gold price (916 Hallmark gold price) – 56880
20 carat gold price (833 Hallmark gold price) – 51810
18 carat gold price (750 Hallmark gold price) – 47270
14 carat gold price (583 Hallmark gold price) – 37320
Price of gold gin (Sone ki Ginni ka Bhav 8 gram 916 Hallmark) – 48050
Silver Price – Rs 77000 per kg
Silver Coin Hallmarked – Rs 890 per piece
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 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 in gold/silver.