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 23 May 2023, Tuesday. Know Views of India’s Big commodity experts like Manoj Jain, Prithvi Finmart, Market and Commodity Expert Sugandha Sachdeva, Ajay Kedia, Kedia Commodity and Anuj Gupta of IIFL Fin Sec, Nirmal Bang Securites, Kotak 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 unable to hold its previous sessions of gain and plunged again amid strength in the U.S. bond yields and steady dollar. The U.S. 10-year bond yields crossed 3.70% mark amid uncertainty over U.S. debt ceiling negotiations and hawkish Fed. The U.S. President Biden and House leaker McCarthy are met on the U.S. debt ceiling negotiations but unable to reach on any conclusion.
On the other hand, Minneapolis Fed President Neel Kashkari said on CNBC that the U.S. central bank is determined to bring inflation down to around 2% annually. However, he said he was unsure if the Fed would raise interest rates at its next FOMC meeting in June. The Fed officials are not backing further monetary tightening but comments are hawkish and it the U.S. Fed pause its interest rates hike cycle in the next policy meeting would be called as “Hawkish Pause” and could pressure precious metals.
Manoj Kumar Jain, Director, Prithvi Finmart
‘We expect gold and silver prices to remain volatile this week amid U.S. debt negotiations talks and volatility in the dollar index and could face steep resistance at higher levels. Gold has support at $1964-1950, while resistance at $1988-2004 per troy ounce. Silver has support at $23.55-23.20, while resistance is at $24.20-24.50 per troy ounce. At mcx, gold is having support at 60000-59770 and resistance at 60480-60720 while silver is having support at 72100-71550 and resistance at 73300-73850. We suggest selling gold on rise around 60450 with a stop loss of 60720 for the target of 59900 and also suggest selling silver on rise around 73100 with a stop loss of 73750 for the target of 72000.’
Nirmal Bang Securities Report on Gold and Silver 23 May 2023
After a Sharp fall in gold comex prices supported at lower levels and bounced back to 1980. We are recommending to go long for a pullback till 2000. Silver looks to take a pullback till $ 24.80-24.90. We are recommending going long between $23.60-23.40 for the target of $24.00-24.20. G
Gold LBMA Spot Geojit Daily Report 23 May 2023
Gold LBMA Spot: Inability to move past $1985 there are chances to continue selling pressure. Else, mild recovery upticks can be seen for the day
Silver LBMA Spot: There is a stiff resistance is at $24.50 which needs to be cleared for continuation of upticks. Else, selling pressure is on the cards.
Ravindra V. Rao, CMT, EPAT, VP-Head Commodity Research, Kotak Securities
Preliminary PMIs from UK, Eurozone and US along with new home sales data and Fed official speeches will be in focus for the day. Amid renewed hawkish rhetoric, we might see some weakness in gold prices for the day.
Ajay Kedia, Director Kedia Commodity Views 23 May 2023
Comex Gold Support: 1958-1954 Dollar
Comex Gold Resistance: 1963-1979 Dollar
Comex Silver Support: 23.63-23.57 Dollar
Comex Silver Resistance: 23.68-23.87 Dollar
Data to Watch Today 23 May 2023 (India Time)
23rd May 06:30 PM United States FOMC Member Logan Speaks (Impact on Gold and Silver Prices-LOW)
23rd May 07:15 PM United States Flash Manufacturing (Impact on Gold and Silver Prices- HIGH)
23rd May 07:15 PM United States Flash Services PMI (Impact on Gold and Silver Prices- HIGH)
23rd May 07:30 PM United States New Home Sales (Impact on Gold and Silver Prices- MEDIUM)
23rd May 07:30 PM United States Richmond Manufacturing Index (Impact on Gold and Silver Prices- MEDIUM)
Gold Ratio
Gold Silver Ratio: 83.64
Gold Crude Ratio: 27.70
Gold London: Gold and Silver Fix
Gold London AM Fix($/oz): 1981.20
Gold London PM Fix($/oz): 1970.30
Silver London Fix($/oz): 23.85
ETF Holdings as on Previous Close
SPDR Gold: 942.74 (Long), 5.78 (Short)
iShares Silver: 14,572.91 (Long), 00 (Short)
Weekly CFTC Positions
Gold($/oz): 162666 (Long), 30877 (Short), 131789 (Net)
Silver: 45779 (Long), 32336, (Short), 13443(Net)
COMEX Futures Watch (Last Close)
Gold($/oz) Aug 23: 1995.70 Dollar (Close), -4.60Dollar (Change)
Silver($/oz) JUL 23: 23.86 Dollar (Close), -0.20 Dollar (Change)
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Nirmal Bang Securites Outlook For 22May 2023
old and silver prices are trading slightly lower today on international bourses. We expect precious metals prices on Indian bourses to trade range-bound to slightly lower for the day. We recommend sell on rise in gold and silver in intra-day trading sessions, as gold prices held Monday’s loss, with the precious metal pressured by rising Treasury yields as traders focused on positive commentary from policymakers over the status of the US debt-ceiling standoff.
Daily Commodity Calls Nirmal Bang Securities 23 May 2023
SELL GOLD JUNE (MCX) AT 60200 SL 60500 TARGET 59700
SELL SILVER JULY (MCX) AT 72800 SL 73400 TARGET 72200/71700
Anuj Gupta, VP, IIFL Sec, Daily Commodity Calls 23 May 2023
BUY MCX GOLD JUNE AT 59800 SL 59550 TARGET 60400
SELL MCX Silver July 73400 SL 74100 TARGET 72200
BUY MCX COPPER May AT 713 SL 707 TARGET 723
Buy MCX CRUDEOIL JUNE AT 5950 SL 5800 TARGET 615
Geojit Intraday Technical Outlook Gold and Silver 23 May
MCX Gold: Buying momentum may see if prices consistently trades above Rs 60500. Else, choppy trading is expected the day
MCX Silver: Prices remains choppy inside Rs 74000-71500 initially, and breaking any of the sides would suggest fresh directional moves for the day.
Kedia Commodity Daily morning calls as on Monday, May 22, 2023
SELL GOLD JUN 2023 at 60400 SL 60600 TGT 60100-59900.MCX
SELL SILVER JUL 2023 at 73300 SL 94000 TGT 72500-72000.MCX
SELL CRUDEOIL JUN 2023 at 6050 SL 6150 TGT 5950-5850.MCX
BUY NAT GAS MAY 2023 at 195.00 SL 190.00 TGT 202.00-206.00.MCX
BUY COPPER MAY 2023 at 715.00 SL 710.00 TGT 720.00-725.00.MCX
BUY ZINC MAY 2023 at 219.00 SL 216.00 TGT 223.00-225.00.MCX
BUY ALUMINIUM MAY 2023 at 207.00 SL 204.00 TGT 210.00-212.00.MCX
BUY LEAD MAY 2023 at 183.00 SL 182.00 TGT 184.00-185.00.MCX
SELL TURMERIC JUN 2023 at 7950 SL 8050 TGT 7850-7750.NCDEX
SELL JEERA JUN 2023 at 45300 SL 45800 TGT 44500-44000.NCDEX
BUY DHANIYA JUN 2023 at 6500 SL 6400 TGT 6600-6700.NCDEX
Gold Price Today in Carats, fineness and Purity 23 May 2023:
24 carat gold price today (Purity 999)- Rs 62200/10 Gram
23 carat gold price today (Purity 995)- Rs 60000/10 Gram
22 carat gold price today (Purity 916) – Rs 57500/10 Gram
18 carat gold price today (Purity 750) – Rs 47300/10 Gram
14 carat gold price today (Purity 585) – Rs 37100/10 Gram
Silver Price Today (Purity 999) – Rs 74400 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.