Gold price today, Silver price, COMEX, MCX Gold price: Gold, Silver price update for 19 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 plunge again amid strength in the dollar index. Both precious metals were settled on a weaker note in the international markets.Gold and silver slipped again on Wednesday after smart comeback in the dollar index. The dollar index recovered from their Tuesday’s low after hawkish comments of the U.S. Federal Reserve Chairman Jerome Powell for controlling inflation.
The dollar index tested 104 marks once again and pushed precious metals lower. Gold and silver also plunged due to heavy sell-off in the U.S. equity markets and crude oil. Dow Jones index fall more than 1100 points after earnings missed the estimates. Crude oil also plunged more than 5% and restricted gains of precious metals.
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The U.S. Federal Reserve Chairman’s hawkish comments for controlling inflation and signals for raising interest rates aggressively trigged sell-off in all asset classes. He said that there could be some economic pain involved in bringing inflation down and the Federal Reserve will keep pushing to tighten monetary policy.
Manoj Jain, Director of Commodity and Currency in Prithvi Finmart expect both precious metals to remain volatile in today’s session and could find support at lower levels. Gold is having support at $1800-1792 per troy ounce and resistance at $1830-1844 per troy ounce while silver is having support at $21.30-21.00 per troy ounce and resistance at $21.84-22.10 per troy ounce.
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Jain said at MCX, gold is having support at 50000-49820 and resistance at 50400-50580 while silver is having support at 60100-59600 and resistance at 61220-61800. We suggest buying gold on dips around 50000 for the target of 50550 keeping stop loss at 49770 on a daily closing basis.
Anuj Gupta, VP, IIFL Sec, Daily Commodity Calls 19 May 2022
Sell Gold June at 50500, SL 50950, TARGET 49700
Buy silver july at 61200, SL 61800, TARGET 60000
Sell MCX COPPER May AT 760, sl 767, TARGET 750
Sell MCX Crude Oil May at 8650, SL 8850, TARGET 8350
Buy Nse USDINR May at 77.50, SL 77.30, TARGET 77.90
Kedia Advisory, Daily Commodity Calls 19 May 2022
BUY GOLD JUN 2022 @ 50000 SL 49800 TGT 50350-50500.MCX
BUY SILVER JUL 2022 @ 60500 SL 60000 TGT 61200-61700.MCX
BUY CRUDEOIL JUN 2022 @ 8150 SL 8020 TGT 8380-8500.MCX
BUY NAT GAS MAY 2022 @ 620.00 SL 600.00 TGT 655.00-675.00.MCX
BUY COPPER MAY 2022 @ 754.00 SL 750.00 TGT 760.00-765.00.MCX
BUY ZINC MAY 2022 @ 307.00 SL 304.00 TGT 312.00-315.00.MCX
BUY ALUMINIUM MAY 2022 @ 235.00 SL 232.00 TGT 239.00-242.00.MCX
BUY LEAD MAY 2022 @ 181.00 SL 179.00 TGT 184.00-186.00.MCX
Gold Hallmarked Jewelery Rate per 10 gm in Chandigarh 18 May 2022 (Gold Price Today)
23 carat gold price – Rs 49900
22 carat gold price – Rs 48900
20 carat gold price – Rs44100
18 carat gold price – Rs 40000
14 carat gold price – Rs 31700
Sone ki Ginni ka Bhav – Rs 40200/ per 8 grams
Silver Price (Silver Price 999.9) – Rs 63400/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.