Fundamental News and Triggers

• Prices of gold and silver are stabilizing in a range as market players stay quiet and demand for safe-haven assets is reduced by the US-China trade talks progress.
• As the second day of crucial trade talks between the United States and China begins in London, market players are remaining highly vigilant. Global financial markets, and the trading of precious metals in particular, are greatly influenced by these talks between the two biggest economies in the world.
• However, the World Bank lowered its 2025 global GDP prediction by 0.4 percentage points to 2.3%, identifying increased charges and rising risks as important problems for most economies, indicating that worries about the impact of tariffs still exist.

Technical Triggers

• Gold prices are expected to trade in the same range of $3275 (~Rs 95000) and $3425(~Rs 99000) in the near term.
• Silver is consolidating in a range of $36.5(~Rs 106,000) and $37 (~Rs 107,000) after a sharp rally. The next target is $38 (~Rs 111,000) if this positive momentum continues.

Support and Resistance

 

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