Gold and Silver – Kya Lagta Hai
Short-term View (up to 1 week) – Rebound –Gold needs to sustain above $1700, to see a rebound and start trending higher.
Long-term View (3-4months) – Positive – – – Any dips towards 50000 and 55000 should be used as buying opportunities for the target of 52000 and 60000 for Gold and Silver respectively in long-term.
SPOT Gold Daily Price Chart
SPOT Silver Daily Price Chart
Important News and Triggers
- International News – – Gold fell more than 1% as the dollar and bond yields climbed after data showed underlying inflation pressures remained high, cementing expectations around another hefty rate hike from the US Federal Reserve this week
- Economic Data – – The FED is widely expected to raise interest rate by 75 basis-point at its policy meeting on Nov. 1-2. For December, traders are largely expecting a 50 basis point increase.