Gold reacting to tightening cycle

Reading Time: 2 minutes
Gold and Silver – Kya Lagta Hai
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 Prices
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
Disclaimer
Share on

Leave a Reply

Your email address will not be published. Required fields are marked *

Fill out this field
Fill out this field
Please enter a valid email address.
You need to agree with the terms to proceed

Menu