Gold price today, Silver price, COMEX, MCX Gold price: Gold, Silver price update for 20 April 2022, Wednesday. 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.
Gold and silver slipped from their highs on Tuesday due to strength in the dollar and U.S. bond yields. Both precious metals were settled on a weaker note in the international markets. Gold June futures contract were settled at $1959.00 per troy ounce with a loss of 1.40% and silver May futures contract were settled at $25.39 per troy ounce with a loss of 2.90%. Both precious metals were also settled on a weaker note in the domestic markets.
The dollar index crossed 101 marks and hit fresh two year highs. The benchmark 10-year U.S. bond yields also crossed 2.95% and hit three year highs. The U.S. dollar hit 20 years high against the Japanese yen and two year highs against the euro. Strong gains in the dollar and Bond yields triggered profit taking in precious metals.
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Crude oil prices also slipped and pushed both precious metals lower. However, Russia-Ukraine crisis and higher global inflation fears are supportive for precious metals. Lower global growth prospects are also supportive for precious metals.
Manoj Kumar Jain, Director of Commodity and Currency in Prithvi Finmart expect both precious metals to remain volatile and continue to hold their support levels. Gold is expected to hold $1922 per troy ounce and silver could hold $25.00 per troy ounce on a closing basis. Gold is having support at $1934-1922 per troy ounce and resistance at $1970-1984 per troy ounce while silver is having support at $25.00-24.70 per troy ounce and resistance at $25.66-26.00 per troy ounce.
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According to Jain at MCX, gold is having support at 52550-52330 and resistance at 52900-53080 while silver is having support at 68400-67900 and resistance at 69220-69800 levels. He suggest to wait for some corrective dips in both precious metals around given support levels for making fresh positions.
Anuj Gupta, IIFL Sec, Daily Commodity Calls 20 April
Sell Gold June at 53000, Stop Loss 53350, TARGET 52500
Sell एilver May at 69500, Stop Loss 70100, TARGET 68000
Sell MCX Copper Apr AT 830, Stop Loss 836, TARGET 818
Sell Crude Oil Apr at 7950, Stop Loss 8100, TARGET 7650
Sell USDINR apr AT 76.40, Stop Loss 76.60, TARGET 75.8
Ajay Kedia, Kedia Commodity, Daily Commodity Calls 20 April
SELL GOLD Jun 2022 at 53000, SL 53350, TGT 52750-52560. MCX
SELL SILVER May 2022at 69200, SL 70000, TGT 68500-67950. MCX
SELL CRUDEOIL Apr 2022 at 8000, SL 8200, TGT 7750-7640. MCX
SELL COPPER Apr 2022 at 828, SL 836, TGT 818-814. MCX
Gold Hallmarked Jewelery Rate per 10 gm in Chandigarh 19 April 2022 (Gold Price Today)
23 carat gold price – Rs 53000
22 carat gold price – Rs 52000
20 carat gold price – Rs 47000
18 carat gold price – Rs 42300
14 carat gold price – Rs 33900
Sone ki Ginni ka Bhav – Rs 42800/ per 8 grams
Silver Price (Silver Price 999.9) – Rs 72200/per kg
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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.
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.