$1850 a very important support for Gold

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Gold and Silver – Kya Lagta Hai

Short-term View (up to 1 week) – Rebound –  Gold and Silver prices are con1850-a-very-important-support-for-gold solidating at its lows. As expected, bottom fishing is supporting prices now. Long-term View (3-4months) -Positive – 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 – Gold Price is down at the beginning of the week as risk aversion maintained the greenback on the winning path. Much of the market’s direction was determined by government bond yields, which jumped to multi-year highs on Monday. The yield on the US 10-year Treasury note hit 3.203%, now down to 3.09%, while that on the German 10-year bund hit 1.189%, currently at around 1.10%
  • 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– The physical gold market in India flipped to a premium this week as a price dip helped drive demand in the run up to the Akshaya Tritiya festival, while COVID-induced curbs muted activity in top consumer China.

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