Precious Metals need validation from US Inflation data to move higher
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 $24
Long-term View (3-4months) – – ––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 TriggersInternational News –– Gold price picks up bids to consolidate the biggest daily loss in a week. US CPI for November bears downbeat forecasts but Core CPI signals
firmer outcomes and can challenge gold buyersEconomic Data – The US Federal Reserve is expected to hike by just 50 bps, although the latest macroeconomic data leaves the door open for another aggressive hike of 75 points. The ECB, on the other hand, has been quite conservative, but maybe is time for European policymakers to grab the bull.
