Fed Rate Hike, Fed Meet, Gold price today, Silver price, COMEX, MCX Gold price: Gold, Silver price update for 16 June 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. Federal Reserve Meeting outcome will come today. Fed rate hike is expected by most of the commodity experts.
The U.S. Fed hikes interest rates by 75 basis points and signals for more aggressive rate hikes and targeting interest rates by 3.40% by end of this year. The U.S. Fed reduced the growth forecast to 1.7% for 2022 and also for 2023 against earlier forecasts of 2.8% for 2022 and 2.2% for 2023. The U.S. Fed also raised the inflation target for 2022 to 5.2% but reduced it for 2023 to 2.6% and 2.2% for the year 2024.
Anuj Gupta, VP of Commodity and Currency in IIFL Fin Sec said Fed decision and weakness in dollar support the gold prices. Gold may test $1850 and silver may test $22.20 levels very soon.
The U.S. Fed also raised unemployment forecasts for 2023 and 2024. Despite aggressive interest rate forecast by the U.S. Fed the dollar index slipped from their highs and supported both precious metals. Raising unemployment targets are also supporting precious metals.
Note: If you want Gold and Silver price news on your mobile write ‘Gold News Update’ and send it on whatsapp no +918448469588
Gold and silver recovered from their lows after profit taking in the dollar index. Both precious metals were settled on a positive note in the international markets
Gold and silver showed very high volatility and plunged in the early trading session but holds its key support levels. Both precious metals showed smart recovery in the late evening session after downbeat U.S. economic data. The dollar index showed profit taking after the U.S. Fed meeting outcome and supported both precious metals.
Follow Gold Price Today on Twitter
Manoj Jain, Director Commodity and Currency in Prithvi Finmart expect gold and silver could show further strength in today’s session. Gold is having support at $1804-1788 per troy ounce and resistance at $1835-1855 per troy ounce while silver is having support at $21.14-20.88 per troy ounce and resistance at $21.80-22.00 per troy ounce.
Jain said at MCX, gold is having support at 50220-50000 and resistance at 50700-51000 while silver is having support at 60100-59500 and resistance at 61200-61800. He suggest buying gold above 50400 with a stop loss of 50180 on a closing basis for the target of 50900 and silver above 60700 with a stop loss of 60100 on a closing basis for the target of 61800.
Join God Price Today Telegram Group for instant updates
Anuj Gupta, IIFL Sec, Daily Commodity Calls 16 June 2022
BUY Gold June at 50200, SL 49850, TARGET 50800
BUY Silver july at 60500, SL 59800, TARGET 62000
Buy MCX COPPER June AT 752, SL 747, TARGET 762
Buy MCX Crude Oil june at 9100, SL 8900, TARGET 9300
Buy Nse USDINR June @ 78.00, SL 77.80, TARGET 78.50
Kedia Advisory, Daily Commodity Calls 16 June 2022
BUY GOLD AUG 2022 @ 50250 SL 50050 TGT 50600-50850.MCX
BUY SILVER JUL 2022 @ 60200 SL 59500 TGT 61200-62000.MCX
SELL CRUDEOIL JUN 2022 @ 9300 SL 9450 TGT 9050-8950.MCX
SELL NAT GAS JUN 2022 @ 620.00 SL 640.00 TGT 590.00-570.00.MCX
BUY COPPER JUN 2022 @ 755.00 SL 750.00 TGT 762.00-768.00.MCX
BUY ZINC JUN 2022 @ 313.00 SL 309.00 TGT 318.00-320.00.MCX
BUY ALUMINIUM JUN 2022 @ 216.00 SL 210.00 TGT 223.00-226.00.MCX
BUY LEAD JUN 2022 @ 182.00 SL 180.00 TGT 185.00-186.00.MCX
Gold Hallmarked Jewelery Rate per 10 gm in Chandigarh 15 June 2022 (Gold Price Today)
23 carat gold price – Rs 50100
22 carat gold price – Rs 49100
20 carat gold price – Rs 44300
18 carat gold price – Rs 40100
14 carat gold price – Rs 31800
Sone ki Ginni ka Bhav – Rs 40400/ per 8 grams
Silver Price (Silver Price 999.9) – Rs 62300/per kg
Subscribe Gold Price Today Youtube Channel
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.
