Gold price today, Silver price, COMEX, MCX Gold price: Gold, Silver price update for 12 May 2022, Thursday. Know Views of India’s Big commodity experts like Manoj Jain, Prithvi Finmart 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 showed very high volatility and recovered from their lows after the U.S. inflation data. Both precious metals were settled on a positive note in the international markets. Gold and silver showed very high volatility and recovered from multi-month lows amid profit taking in the U.S. 10-year bond yields and solid gains in crude oil.
The benchmark 10-year bond yields cooled-off after U.S. inflation data and supported both precious metals. The U.S. consumer prices inflation stay above 40 year highs in April and came at 8.3% against estimate of 8.1% and previous data of 8.5%. Higher than expected U.S. CPI inflation remains problematic for consumers and the U.S. economy for the short term but quite supportive for precious metals in the longer term.
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The U.S. Federal Reserve’s tone remains hawkish after U.S. CPI inflation data. Precious metals are getting support at lower levels from the geo-political tensions, Chinese lockdowns and sell-off in global equity markets. Crypto currencies are also plunged and could support gold and silver prices in the upcoming sessions.
Kedia Advisory says Investors are increasingly betting the ECB will start raising borrowing costs in July. The Perth Mint’s gold product sales in April fell 34% from the previous month, while silver sales rose, the refiner said. Monthly sales of gold coins and minted bars fell to 80,941 ounces from 121,997 ounces in March.
Manoj Jain, Director of Commodity and Currency in Prithvi Finmart expect gold prices could hold $1830 per troy ounce and expected to test $1870-1884 per troy ounce levels again. Silver prices could also hold $21 per troy ounce and could test $22.00-22.40 per troy ounce in the near term. Gold is having support at $1844-1830 per troy ounce and resistance at $1870-1884 per troy ounce while silver is having support at $21.35-21.00 per troy ounce and resistance at $21.88-22.10 per troy ounce.
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He says at MCX, gold is having support at 50600-50440 and resistance at 51000-51220 while silver is having support at 60330-60000 and resistance at 61100-61550. He suggest buying gold on dips around 50660 with a stop loss of 50440 on a daily closing basis for the target of 51000-51220.
Anuj Gupta, VP, IIFL Sec, Daily Commodity Calls 12 May 2022
Sell Gold June at 50800, SL 51150, TARGET 50000
Sell Silver july at 61100, SL 61800,TARGET 59800
Sell MCX COPPER May AT 760, SL 766, TARGET 745
Sell MCX Crude Oil May at 8250, SL 8420, TARGET 7800
Buy USDINR may AT 77.30, SL 77.00, TARGET 77.80
KEDIA ADVISORY Daily morning calls as on Thursday, May 12, 2022
BUY GOLD JUN 2022 @ 50600 SL 50400 TGT 50900-51100.MCX
BUY SILVER JUL 2022 @ 60400 SL 59800 TGT 61200-61800.MCX
SELL CRUDEOIL MAY 2022 @ 8250 SL 8400 TGT 8050-7900.MCX
BUY NAT GAS MAY 2022 @ 560.00 SL 535.00 TGT 595.00-615.00.MCX
BUY COPPER MAY 2022 @ 750.00 SL 745.00 TGT 758.00-765.00.MCX
BUY ZINC MAY 2022 @ 312.00 SL 309.00 TGT 318.00-322.00.MCX
BUY ALUMINIUM MAY 2022 @ 230.00 SL 227.00 TGT 235.00-240.00.MCX
BUY LEAD MAY 2022 @ 182.00 SL 180.00 TGT 185.00-187.00.MCX
Gold Hallmarked Jewelery Rate per 10 gm in Chandigarh 11 May 2022 (Gold Price Today)
23 carat gold price – Rs 50500
22 carat gold price – Rs 49500
20 carat gold price – Rs 44700
18 carat gold price – Rs 40500
14 carat gold price – Rs 32100
Sone ki Ginni ka Bhav – Rs 40800/ per 8 grams
Silver Price (Silver Price 999.9) – Rs 62900/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.
