Fundamental News and Triggers

• With China announcing tariffs on some US goods in response to US President Donald Trump’s 10% tax on Chinese imports, gold continues its winning streak for a seventh consecutive week, igniting a new trade war between the world’s two largest economies and supporting the safe-haven gold price.
• Now, attention turns to the U.S. employment report. A full-employment economy with strong growth and declining inflation will allow the Fed to keep lowering interest rates, though a slower pace is advocated by uncertainty about the effects of tariffs and other policy changes.
• The gold market will continue to rise through 2025, helped along by a long global cycle of rate cuts, ongoing geopolitical and economic uncertainty, and robust demand from investors and central banks.

 

Technical Triggers

• Gold has achieved the target of $2900 (~Rs 84600) yesterday. We may see strength towards the next psychological level of $3000 (~Rs 87500).
• Silver is on the verge of breakout at $33 (~Rs 96000). If prices remain above this level, we are likely to see a 5% upward for the target of $35 (~Rs 101,000).

 

Support and Resistance

 

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