Insights

Gold and Silver consolidating around $2400 and $28 respectively

Daily Report

The quest for a safe haven remains strong due to the growing geopolitical tensions in the Middle East. In retaliation for Iran’s attack on Israel, the US issues a warning regarding sanctions. The Fed’s “higher for longer” interest rate policy counteracts the demand for safe haven assets, but the price of gold is still rising.

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Gold in wait-and-see mode, around $2400

Daily Report

Iran’s attack on Israel increased demand for safe havens, which in turn drove up the price of bullion, although significant increases were hampered by the strength of the dollar. Although it appears that most of the tension between Iran and Israel has been priced into gold prices, fresh friction or retaliation would likely drive prices higher.

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Gold still has all legs to run to $2400

Daily Report

As tensions between Israel and Hamas continue to rise, the price of gold rises beyond $2380. Strong demand for safe-haven assets amid escalating global tensions is balancing the negative effects of diminishing expectations that the Federal Reserve would switch to rate reduction in June, which is why the precious metal is still rising.

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Target $27 achieved in Silver; what next?

Weekly Blog

This week saw a significant bullish breakthrough in the price of silver, aided by gold’s record-breaking surge. Silver prices are surging and have reached a two-year high of $27.43 in the International market and a record-high level of Rs 81350 in domestic markets.

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Gold continues its bull run above $2300

Daily Report

After Federal Reserve Chair Jerome Powell reaffirmed that recent data on job gains and higher-than-expected inflation do not significantly alter the broader picture of economic policy this year, gold prices shot to yet another new high today, reaching $2323.

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