Gold and Silver – Kya Lagta Hai
Short-term View (up to 1 week) – Positive – – Gold and Silver prices are seeing rebound and cleared their recent highs. Next resistance for gold is $1815 and for Silver $23
Long-term View (3-4months) – Positive – –– Any dips towards 51000 and 55000 should be used as buying opportunities for the target of 55000 and 65000 for Gold and Silver respectively in long-term.
SPOT Prices
SPOT Gold 4 Daily Price Chart
SPOT Silver 4 Daily Price Chart
Important News and Triggers
International News ––The gold price has retraced after reaching a multi-month high of $1810, propelled by high US Treasury yields and a risk-off urge. Factors such as the latest employment report in the United States (US) confirmed the labor market’s tightness and led to a rise in US bond yields
Demand – The supportive factors for precious metals continue to line up – China’s reopening, lower US yields and a weaker Dollar. If the $1800 level can be consolidated, short-term traders will probably turn into full-fledged buyers.
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