Gold and Silver – Kya Lagta Hai
Short-term View (up to 1 week) –Positive–Gold is trading in a channel with lower highs and lower lows. Next target level it could touch is 52000. While Silver has retraced almost 23.6% from its lows, next level to watch for is 50% retracement 63700.
Long-term View (3-4months) -Positive – Any dips towards 50000 and 60000should be used as buying opportunities for the target of 55000 and 70000 for Gold and Silver respectively
SPOT PRICES![](https://w7o994.n3cdn1.secureserver.net/wp-content/uploads/2022/05/25-5-2022.jpg)
SPOT Gold Daily Price Chart
SPOT Silver Daily Price Chart
Important News and Triggers
- International News –Financial markets were in risk-off mode on Tuesday as lingering growth and inflation concerns came back under the spotlight.Gold prices continue its recovery as Dollar Indexsurrenders the almost 3% gains after hitting a 19-year high of 105.00 on May 13 and now trading below 102
- Demand and Supply – If we look at US CFTC data, speculators for gold futures raised short positions by more than 35 per cent from the lows in late March.
- Economic Data–Despite lingering inflation, market participants doubt how tight the US Federal Reservemonetary policy could be. Speculative interest is now considering two potential 50 bps hikes and then a less aggressive stance.
- Domestic News–Gold imports rose 33.3% in FY22 to 837 tonnes, or 12% more than the pre-pandemic annual average of FY16-20.