We anticipate an intraday gold market with COMEX spot gold resistance at $1,720 and support at 1,676 per ounce. Gold support for October MCKS is set at Rs 49,800 for 10 P.and resistance at Rs 50,500, said Tapan Patel, senior analyst (property), HDFC Securities.

On Wednesday, the price of gold in international markets fell as the dollar rose. Government bonds agreed after economic expectations were given that the Federal Reserve would stick with rate hikes. Spot gold was up 0.3% at $1,696.30 an ounce at 0127A GMT.

By 9.41am, the gold contract on the Multi Commodity Exchange (MCKS) was trading up 0.52% at Rs 50,020 10 and silver up 0.72% at 52,766 kg.

Better economic data in the United States reflects better economic health with rising Treasury yields and demand for support for the US dollar. Precious metals advanced that day as the US dollar index broke the 110 mark. According to preliminary data, the US PMI was 56.9 against the US dollar index and 56.7, putting pressure on precious metal prices. A continued appreciation of the dollar, which goes against the price of gold, can sell precious metal prices. Gold resists at Rs (87)DCL and has support at Rs (50). Silver price Rs (52700) and resistance at Rs 54400.

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Pritam Patnaik, Director – Real Estate, HNI & NRI Purchases, Treasury Securities

A slide in the dollar index and bond yields significantly weakened gold after a 75 basis point increase in H rates is likely. Enjoying the positive data flowing from the US economy, H can easily implement his plans to control inflation. With a potential increase of 75 basis points to 72%, the impact on gold is not surprising.

The dollar index rose 0.4% to 110.25, the highest level in 20 years, while the 10-year US Treasury yield was also at a two-month high. . . . The balloon package will remain under pressure until the H event.

Tapan Patel, Principal Analyst (Equity), HDFC Securities

Gold prices fell on Wednesday, with spot COMEX gold down nearly 0.30% to $1,697 in morning trading. Gold prices fell to $1,700 an ounce on the back of a strong dollar and expected economic data, lifting fears of a faster rate hike by the Fed. The dollar index rises above the 110 mark, and the demand for a safe harbor is being exploited.

With COMEX spot support at $1676 and resistance at $1720 per ounce, we expect gold prices to be slightly lower during the day. October support for MCKS gold is Rs (49)800 and resistance is Rs (50)D for 10 P

Disclaimer: Investment opinions and advice are those of the experts at moneicontrol.com, not necessarily those of the site or its management. Moneicontrol.com advises users to seek advice from certified professionals before making any decisions

Gold Prices Today: Yellow metal softens ahead of Federal decision – Check gold prices in your city

Gold prices Today: 22 karat gold was priced at Rs 47,400 for 10 paise. The price of 24 karat gold fell from Rs 1,050 in 10 passes to Rs 51,710.

Gold Price Today: On Wednesday, June 15, 2022, the price of gold fell below Rs 960 for the 10th day as it weakened. The price of 22 gold cars was Rs 47,400 per car. 1050 at Rs 51,710 at 10 paise in morning trade.

Spot gold rose 0.5% to $1,817.12 an ounce at 0229 GMT, the lowest since May 16, falling to $18,000 on Tuesday. Will We Pay Gold futures rose 0.3% to $1,818.50

The platform prices for 22 karat gold available on June 15, 2022 (excluding GST, TCS, and other taxes) are as follows;

Chennai: New Delhi

Mumbai: Rs 47,400

Delhi: Rs 47,400

Kolkata: Rs 47,400

Bangalore: Bangalore

Hyderabad: Rs 47,400

Kerala: Rs 47,400

Ahmedabad: Rs 47,480

Jaipur: R.

Lucknow: Rs 47,580

The cost is $47,450

Chandigarh: New Delhi

Bhubaneshwar: Rs 47,400

By bemaad

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