Fundamental News and Triggers

• Before today’s FED monetary policy statement and Fed Chair Jerome Powell’s press conference, the
  gold and silver markets were trading cautiously. The Federal Reserve’s announcement and
  economic projections are awaited by traders. Expectations for the Federal Funds Rate might
  change, which raises questions and makes the market mood uncertain.
•  Recent US inflation statistics revealed that both PPI and CPI surprised to the upside, indicating that
  inflation is stickier than anticipated and hasn’t dropped below the 3% mark.
• Expectations for a June rate decrease are now at 58%, down from 72% a week ago, according to the
  CME FedWatch Tool.

Technical Triggers

• After touching record-high prices of $2200, gold is taking a breath and consolidating around high
  levels, before starting a new runup.
• Silver prices are facing a resistance zone around $25.50-$26 (~Rs 76000 – Rs 77000), prices need to
  sustain above this level to head higher.

Support and Resistance

 

 

Disclaimer: This report contains the author’s opinion, which is not to be construed as investment advice. The author, Directors, and other employees of Augmont Enterprise Private Ltd. and its affiliates cannot be held responsible for the accuracy of the information presented herein or for the results of the positions taken based on the opinions expressed above. The opinions mentioned above are based on information, which is believed to be accurate, and no assurance can be given for the accuracy of the information. The author, directors other employees and any affiliates of Augmont Enterprise Private Ltd cannot be held responsible for any losses in trading. In no event should the content of this research report be construed as an express or implied promise, guarantee or implication by or from Augmont Enterprise Private Ltd. that the reader or client will profit or the losses can or will be limited in any manner whatsoever. Past results are no indications of future performance. Information provided in this report is intended solely for informative purposes and is obtained from sources believed to be reliable. The information contained in this report is in no way guaranteed. No guarantee is implied or possible where projections of future conditions are attempted. We do not offer any sort of portfolio advisory, portfolio management or investment advisory services. The reports are only for information purposes and are not to be construed as investment advice.