Gold Rate today | Silver price | Gold | Silver | MCX Gold price |: Gold and Silver price update for 13 March, 2023 Monday. Check 24, 22 carat gold, 18 carat gold rate, 14 carat gold price and silver price in various cities of India. Know outlook on gold and silver by India’s Big commodity experts like Manoj Jain, Prithvi Finmart and Anuj Gupta of IIFL Sec on gold and silver. US Fed emergency meeting is scheduled today.
Manoj Jain, Director of Commodity and Currency in Prithvi Finmart gold prices reached to one month high and crossed its resistance level of $1855 per troy ounce while silver also tested its resistance level of $20.64 per troy ounce once again.The U.S. Fed called an emergency meeting on Monday after the SVC bank saga and could keep precious metals volatile. Gold prices hold above $1855 per troy ounce levels could extend its gain towards $1900 per troy ounce while silver prices cross and sustain above $20.64 per troy ounce could test $21.00-21.55 per troy ounce levels again.
Manoj Jain sadi gold has support at $1854-1845, while resistance at $1884-1900 per troy ounce. Silver has support at $20.34-20.10, while resistance is at $21.00-21.55 per troy ounce. At mcx, gold is having support at 55950-55680 and resistance at 56500-56720 while silver is having support at 62220-61550 and resistance at 63650-64400. He suggest buying gold on dips around 55950 with a stop loss of 55660 for the target of 56600 and buy silver around 62200-62400 with a stop loss of 61500 for the targets of 63300-64000.
According to Anuj Gupta, VP in IIFL Sec after the release of US labour data showing slower wage growth eased the US inflation concerns as market is now rife with speculation that the US Fed officials may adopt a modest rate hike approach in upcoming FOMC meeting scheduled this month. This modest US Fed rate hike speculation triggered selling pressure in the US dollar that resulted in retracement in Dollar Index from its 3-month highs.
According to Gupta technically the trend of gold and silver is sideways to up. Gold has immediate support placed at $1,835 per ounce levels and then $1820 per ounce levels while on the upper side it is facing hurdles at $1,890 per ounce levels and then $1920 per ounce levels.. Today Comex gold crossed $1890 level.
Gupta said On MCX, gold price has immediate support placed at ₹55,700 and then 55,200 levels whereas it is facing resistance at ₹56,700 and ₹57,200 per 10 gm levels. Silver has immediate support at 61000 levels and then 58000 levels while on the upper side it is facing hurdles at 64000 levels and the 66000 levels.
According to Gupta yellow metal may also take positive cues from the news of bankruptcy of Silver Valley Bank is expected to put equity assets under and hence safe haven demand may support the bullions.
Anuj Gupta, IIFL Fin Sec, Daily Commodity Calls 12 March 2023
BUY MCX GOLD APR AT 56100, SL 55850, TARGET 56600
Buy MCX Silver May 62600, SL 62250, TARGET 63500
Buy MCX COPPER AT 747, SL 742, TARGET 760
BUY MCX CRUDEOIL MAR AT 6250, SL 6150, TARGET 6400
Gold Hallmarked Jewelery Rate per 10 gm in Chandigarh 9 March 2023 (Gold Price Today)
22 carat gold price – Rs 53700/10 gm
18 carat gold price – Rs 44100
14 carat gold price – Rs 34700
Sone ki Ginni ka Bhav – Rs 44050/ per 8 grams
Silver Price (Silver Price 999.9) – Rs 65100/per kg
Gold Rate Today in Dehradun (10 March 2023) (Sarafa Mandal Dehradun)
24 carat gold price (24 carat gold price) – Rs 58100 per 10 grams
23 carat gold price (958 Hallmark gold price) – 55660
22 carat gold price (916 Hallmark gold price) – 52120
20 carat gold price (833 Hallmark gold price) – 48400
18 carat gold price (750 Hallmark gold price) – 44160
14 carat gold price (583 Hallmark gold price) – 34860
Price of gold ginni (Sone ki Ginni ka Bhav 8 gram 916 Hallmark) – 44880
Silver Price – Rs 65000 per kg
Silver Coin Hallmarked – Rs 770 per piece
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
