Bullion continues its rebound on dovish FED minutes

Gold and Silver – Kya Lagta Hai

Short-term View (up to 1 week) – Positive – – Gold and Silver prices are seeing rebound as MACD Indicator has reversed in 4-Hourly chart and giving buy signal.

Long-term View (3-4months) – Positive – –Any dips towards 51000 and 55000 should be used as buying opportunities for the target of 55000 and 65000 for Gold and Silver respectively in long-term.

SPOT Prices
SPOT Gold 4 Hourly Price Chart
SPOT Silver 4 Hourly Price Chart
Important News and Triggers
FED minutes – Bullion prices advances as the Dollar Index and Treasury bond yields are suffering from damage from the dovish US FED November meeting minutes and bad economic reports. The Federal Open Market Committee confirmed that it could be prepared to pivot from aggressive rate hikes in coming months. Currency and Bond market – Since the November 3 low at $1615, gold has bounced by around 7% while the broad Dollar index trades down by close to 5%. In addition, the recovery in gold has been supported by a 30 bps drop in US ten-year real yields and a key part of the US yield curve inverting the most since the early 1980’s, thereby signaling an increased risk of a recession hitting the US economy next year.
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