Gold Rate today | What is Silver price | Gold | Silver | MCX Gold price | Comex Group | Comex Group Gold Price | London Spot: Gold Price, Silver price update for 30 June 2023, Friday. Know Views of India’s Big commodity experts like Manoj Jain, Prithvi Finmart, Ajay Kedia, Kedia Commodity and Anuj Gupta of IIFL Fin Sec, Nirmal Bang Securities, Kotak Securities, Motilal Oswal Financial Services, SMC Global Securities and Geojit on Comex 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.
Gold and silver extended its fall on Thursday and slipped to 3.5 month lows after upbeat U.S. GDP data and decline in the unemployment claims. The final U.S. GDP and personal consumption data for the first quarter came stronger than expected. GDP was revised from 1.3% to 2.0% growth and personal consumption also increased from 3.8% to 4.2%. The U.S. unemployment claims also fell 2,39,000 from previous claims of 2,64,000 it was down from 18 month highs and biggest drop in jobless claims since 2021. After upbeat U.S. economic data market is expecting further interest rate hikes from the U.S. Fed in July policy meetings. The dollar index and U.S. 10-year bond yields also surged after upbeat data and pushed gold and silver lower.
Manoj Kumar Jain, Director, Prithvi Finmart
‘We expect gold and silver prices to remain volatile this week ahead of the U.S. inflation data and could show some short coverings from lower levels. Gold has support at $1904-1896, while resistance at $1930-1945 per troy ounce. Silver has support at $22.20-21.84, while resistance is at $22.80-23.20 per troy ounce. At mcx, gold is having support at 57770-57550 and resistance at 58220-58450 while silver is having support at 69000-68550 and resistance at 70100-70650. We suggest buying gold on dips around 57700 with a stop loss of 57450 for the target of 58250.’
Comex Gold and Silver Update by Nirmal Bang Securities 30 June 2023
Gold prices are supported at lower levels like 1940-44 and likely to test 1970-90. We are recommending to buy on dips around 1955-50 for a target of 1970-80.We recommend buying around 23.50-40 for a target of 24.60-80.
Ravindra V. Rao, CMT, EPAT, VP-Head Commodity Research, Kotak Securities
The American economy expanded by 2% from the previous quarter in the three months ending in March 2023, proving to be in much better shape than initially thought, and increasing bets that the Federal Reserve may afford to continue tightening monetary policy without causing a steep contraction. Meanwhile, traders are currently assigning a nearly 87% chance the Fed will raise the fed funds rate by 25bps next month and the odds for another quarter-point hike in September are rising, and currently stand at nearly 23%, weighing down on gold prices.”
Gold LBMA Spot Geojit Daily Report 30 June 2023
Gold LBMA Spot: A direct break below $1900 would extend liquidation. Else, recovery upticks are on the cards.
Silver LBMA Spot:Choppy trades expected initially. Further selloffs are expected only a break of $22.
Data to Watch Today 30 June 2023 (India Time)
30th June 06:00 PM United States Core PCE Price Index m/m (Impact on gold, silver price- High)
30th June 06:00 PM United States Personal Income m/m
30th June 06:00 PM United States Personal Spending m/m
30th June 07:15 PM United States Chicago PMI
30th June 07:30 PM United States Revised UoM Consumer Sentiment
30th June 07:30 PM United States Revised UoM Inflation Expectations
Gold Ratio
Gold Silver Ratio: 84.13
Gold Crude Ratio: 27.45
Gold London: Gold and Silver Fix
Gold London AM Fix($/oz): 1904.05
Gold London PM Fix($/oz): 1899.60
Silver London Fix($/oz): 22.83
ETF Holdings as on Previous Close
SPDR Gold: 924.50 (Long), -2.31 (Short)
iShares Silver: 14,517.99 (Long), -117.05 (Short)
Weekly CFTC Positions
Gold($/oz): 128005 (Long), 33379 (Short), 94626 (Net)
Silver: 38344 (Long), 27043 (Short), 11301 (Net)
COMEX Futures Watch (Last Close)
Gold($/oz) Aug 23: 1917.90 Dollar (Close), -4.30 (Change)
Silver($/oz) JUL 23: 22.80 Dollar (Close), -1.24 (Change)
Nirmal Bang Securities Gold Fundamental Outlook For 30 June 2023
Gold and silver prices are trading flat on international bourses. We expect gold to trade lower for the day as
a flurry of data showed a surprisingly strong US economy, giving the Federal Reserve more scope to keep raising rates.
SMC Global Securities Views on MCX Gold and Silver 30 June
Gold may trade in the range of 57800-58300, Silver also trades in the range of 69000-70100 where selling near resistance is advised. Gold struggled for momentum in early Asian trading on Friday, as traders awaited key U.S. inflation numbers due later in the day after a slew of strong data prints and hawkish comments from Federal Reserve officials raised bets of more rate hikes.
Daily Commodity Calls Nirmal Bang Securities 30 June 2023
BUY GOLD AUG (MCX) AT 57900 SL 57650 TARGET 578300/58400
BUY SILVER SEPT (MCX) AT 69400 SL 68800 TARGET 70200/70500
Geojit Intraday Technical Outlook Gold and Silver 30 June 2023
MCX Gold: As long as prices stay below Rs 59000 would extend weakness. Break above Rs 60500 is a sign of recovery momentum.
MCX Silver: Break above the resistance of Rs 71000 is needed to trigger recovery upticks. Else, it may continue weak trades for the day.
Gold Price Today in Carats, fineness and Purity:
24 carat gold price today (Purity 999)- Rs 59900/10 Gram
22 carat gold price today (Purity 916) – Rs 55400/10 Gram
18 carat gold price today (Purity 750) – Rs 45600/10 Gram
14 carat gold price today (Purity 585) – Rs 35800/10 Gram
Silver Price Today (Purity 999) – Rs 71500 per kg
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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 jewellers add GST, making charges and hallmarking charges to the gold price. Many jewellers 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: The information presented in this article is i intended for informational purposes only and reflects the views of the expert. Prior to making any investment decisions, it is recommended that you seek the advice of a financial advisor. The individuals affiliated with Gold Price Today do not engage in the personal buying, selling, or trading of gold/silver. We cannot be held liable for any gains or losses incurred.