Gold and Silver – Kya Lagta Hai
Short-term View (up to 1 week) – Negative– Gold and Silver prices are
continuously getting support on uptrend line. Next resistance for gold is 58000
and for Silver 70000Long-term View (3-4months) – Positive – – Gold has made Inverse Head and
Shoulder pattern on daily charts. Neckline resistance is $1820. If prices sustain
above it, target would be $2020.SPOT PRICES
SPOT Gold Hourly Price Chart
SPOT Silver Hourly Price Chart
Important News and Triggers
COMEX Gold rises to seven-month high on rising yields
- International News – Gold price hits fresh seven-month highs above $1860. The US Treasury yields decline, risk-on mood smash the US Dollar. Sell-off in the US
Treasury yields cap the downside in the gold price. - Economic data – The minutes showed FED officials intent on lowering inflation back toward their 2% target at the risk of rising unemployment and slower growth.
The Fed’s staff said the possibility of a recession was “a plausible alternative to the baseline” outlook for slow economic growth for 2023.
- International News – Gold price hits fresh seven-month highs above $1860. The US Treasury yields decline, risk-on mood smash the US Dollar. Sell-off in the US
