Short-term View (up to 1 week) – – Consolidation – Gold and Silver prices
are consolidating at its lows Long-term View (3-4months) – Any dips towards 50000-51000
and 62000-63000 should be used as buying opportunities for the target of
55000 and 75000 for Gold and Silver respectively
SPOT Gold Daily Price Chart
SPOT Silver Daily Price Chart
Important News and Triggers
International News – As the markets continue to digest whether a 50/50/50x hiking profile (vs. 50/75/50x over the next few meets) is actually enough to tame
inflation, induce a recession etc, Gold is reacting negatively for expectation of faster rate hikes.
Economic Data – Speculative interest is focused on inflation and its potential negative effects on economic growth, as the US will release April Consumer Price
Index figures later in the week.
Domestic News– Strong demand in India due to marriage season, for Gold as prices have retraced