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 22 June 2023, Thursday. 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 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.
Comex gold and silver extended its fall and hit three month lows after U.S. Fed Chairman’s first day of testimony before the U.S. congress. Powell’s comments at his semi-annual monetary policy report to Congress on Wednesday and Thursday started with the House Financial Services Committee hearing on Wednesday. He said interest rates are too high but the U.S. central bank will likely to increase some more for controlling inflation. Market is closely watching his testimony for clues on the specific timing of further interest rate hikes in the upcoming policy meetings. Gold and silver are struggling due to hawkish comments of the Fed Chairman in his testimony but the dollar index slipped again and could support precious metals at lower levels.
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Manoj Kumar Jain, Director, Prithvi Finmart 22 June 2023 Comex Gold and Silver Update
‘Short coverings are expected in gold and silver in today’s session. We expect gold and silver prices to remain volatile in today’s session and get directions from the Fed Chairman’s comments on the final day of his testimony. Gold has support at $1934-1922, while resistance at $1958-1970 per troy ounce. Silver has support at $22.55-22.20, while resistance is at $23.00-23.35 per troy ounce.’
Comex Gold and Silver Update by Nirmal Bang Securities 22 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.’
Gold LBMA Spot Geojit Daily Report 22 June 2023
Gold LBMA Spot: Intraday momentum likely to be weak as long as prices stay below $1920. A direct turn above $1980 is a reversal signal. .
Silver LBMA Spot: Weak bias likely to continue while prices stay Possibilities below $23. Consistent trade above $23.50 is a sing of recovery rallies.
Ravindra Rao, CMT, EPAT, VP-Head Commodity Research, Kotak Securities Ltd
‘Prospects of further rate hikes from western economies continue to weigh down on the demand outlook. China is expected to announce further support measures as the recent rate cuts failed to pacify investors. API inventory data released earlier today showed that stocks of crude oil in the US fell 1.246 million barrels during the previous week and investors keenly await EIA data later today. Recent bounce in oil prices might lose steam for now as investors await fresh triggers.’
Motilal Oswal Financial Services (MOFSL) Commodity Report 22 June 2023
Ajay Kedia Director Kedia Commodity Spot Gold Levels
GOLD$ – 1932.55
Resistance: 1939.8-1947-1955.2-1962.1
Support: 1924.4-1916.3-1909-1902.1
SILVER$ – 22.66
Resistance: 23.01-23.36-23.55-23.72
Support: 22.46-22.27-21.92-21.75
Rahul Kalantri, VP Commodities, Mehta Equities
‘Gold has support at $1924-1912 while resistance is at $1945-1956. Silver has support at $22.48-22.32, while resistance is at $22.95-23.08.’
Data to Watch Today 22 June 2023 (India Time)
22nd June 06:00 PM United States Unemployment Claims (Impact on gold and silve prices- High)
22nd June 06:00 PM United States Current Account (Impact on gold and silve prices-Low)
22nd June 07:25 PM United States FOMC Member Bowman Speaks (Impact on gold and silve prices- Low)
22nd June 07:30 PM United States Fed Chair Powell Testifies (Impact on gold and silve prices- High)
22nd June 07:30 PM United States Existing Home Sales (Impact on gold and silve prices-Medium)
22nd June 07:30 PM United States CB Leading Index m/m (Impact on gold and silve prices-Low)
Gold Ratio
Gold Silver Ratio: 84.49
Gold Crude Ratio: 26.82
Gold London: Gold and Silver Fix
Gold London AM Fix($/oz): 1935.25
Gold London PM Fix($/oz): 1925.65
Silver London Fix($/oz): 23.08
ETF Holdings as on Previous Close
SPDR Gold: 934.03 (Long), 00 (Short)
iShares Silver: 14,586 (Long), 179 (Short)
Weekly CFTC Positions
Gold($/oz): 126927 (Long), 33623 (Short), 93304 (Net)
Silver: 40237 (Long), 25600 (Short), 14637 (Net)
COMEX Futures Watch (Last Close)
Gold($/oz) Aug 23: 1944 Dollar (Close), -2.8 Dollar (Change)
Silver($/oz) JUL 23: 23.02 Dollar (Close), -0.43 (Change)
Nirmal Bang Securities Outlook For 22 June 2023
‘Gold and silver prices are trading flat on international bourses. We expect gold to trade lower for the day asFederal Reserve Chair Jerome Powell reiterated the central bank will continue raising interest.’
Daily Commodity Calls Nirmal Bang Securities 22 June 2023
SELL GOLD AUG (MCX) AT 59000 SL 59250 TARGET 58600/58400
SELL SILVER JULY (MCX) AT 70000 SL 70700 TARGET 69200/68700
Anuj Gupta, VP, IIFL Sec, Daily Commodity Calls 22 June 2023
Sell GOLD AUG AT 58900 SL 59300 TARGET 58200
SELL SILVER JULY AT 7000 SL 70600 TARGET 69000
BUY CRUDEOIL JULY AT 5900 SL 5800 TARGET 6150
BUY MCX COPPER JUNE AT 725 SL 719 TARGET 733
BUY NIFTY AT 18750 SL 18650 TARGET 18880
BUY BANKNIFTY AT 43500 SL 43200 TARGET 44200
BUY SENSEX AT 63300 SL 62800 TARGET 64000
SELL NSE USDINR AT 82.10, SL 82.30 TARGET 81.60
Manoj Jain, Director, Prithvi Finmart
‘At mcx, gold is having support at 58500-58320 and resistance at 58880-59050 while silver is having support at 68500-67750 and resistance at 69900-70400. We suggest buying gold on dips around 58400 with a stop loss of 58180 for the target of 58900.’
Kedia Commodity MCX Gold, Silver Levels
MCXBULLDEX – 15745
Resistance: 15837-15930-16020
Support: 15654-15564-15471
GOLD – 58714
Resistance: 58927-59141-59417
Support: 58437-58161-57947
SILVER – 69247
Resistance: 70260-71272-72125
Support: 68395-67542-66530
Geojit Intraday Technical Outlook Gold and Silver 22 June 2023
MCX Gold: While prices stay below Rs 59000 intraday momentum likely to be on the lower side. Immediate resistance is seen at Rs 59800.
MCX Silver: Selling momentum may continue while prices stay below Rs 72000. Upside reversal point is placed at Rs 74000.
Kedia Commodity Daily morning calls as on Tuesday, June 22, 2023
BUY GOLD AUG 2023 at 58600 SL 58400 TGT 58900-59100.MCX
BUY SILVER JUL 2023 at 69000 SL 68500 TGT 69600-70200.MCX
SELL CRUDEOIL JUL 2023 at 6050 SL 6150 TGT 5950-5850.MCX
SELL NAT GAS JUN 2023 at 213.00 SL 218.00 TGT 206.00-202.00.MCX
BUY COPPER JUN 2023 at 726.00 SL 722.00 TGT 732.00-736.00.MCX
BUY ZINC JUN 2023 at 215.00 SL 213.00 TGT 218.00-220.00.MCX
BUY ALUMINIUM JUN 2023 at 201.00 SL 199.00 TGT 203.50-205.00.MCX
BUY LEAD JUN 2023 at183.00 SL 182.00 TGT 184.00-185.00.MCX
Gold Price Today in Carats, fineness and Purity:
24 carat gold price today (Purity 999)- Rs 60450/10 Gram
22 carat gold price today (Purity 916) – Rs 55200/10 Gram
18 carat gold price today (Purity 750) – Rs 46000/10 Gram
14 carat gold price today (Purity 585) – Rs 36300/10 Gram
Silver Price Today (Purity 999) – Rs 71450 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.