Fundamental Q News and Triggers

• Despite rising anxiety and a cautious attitude, the price of gold remains stable near $1950. The Fed
officials underlined their desire to keep interest rates unchanged. These comments boost US bond
yields amid strong US Economic growth momentum. 

• Furthermore, emphasis is still paid to the geopolitical conflict between Israel and Hamas. Gaza
authorities said that an Israeli airstrike on a hospital in the Occupied Palestinian Territory on Tuesday
resulted in the deaths of 500 people, while Israel claimed that a Palestinian attack was to blame for
the damage. The market uncertainties and rising geopolitical tensions in the Middle East may
continuously support demand for conventional safe-haven assets like gold.

Technical Triggers

• Target of $1965 (Rs 60000) achieved in Gold. It seems, prices are expected to see profit-booking now
and can correct up to Rs 59000.

• Silver has given a bullish reversal, bouncing back on its uptrend line and crossing the resistance above
$23. The next target is $24.5 (Rs 73500). 

Support and Resistance

 

 

 

 

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