Bullion gathering steam for next rally

Gold and Silver – Kya Lagta Hai

Short-term View (up to 1 week) – Positive – – –   A small healthy correction in Gold can drive prices lower upto 54000 and 53700

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 Daily Price Chart
SPOT Silver Daily Price Chart
Important News and Triggers

International News – After nearly hitting $1,780 an ounce last week, gold is starting to backtrack amid hawkish comments from Federal Reserve officials. The extent of the rally in gold took many by surprise these past two weeks. But the precious metal might have moved too high, too fast. Bullion prices are gathering steam and after some healthy correction, prices might bounce back.

Interest Rates – Gold is really going to keep an eye on those interest rates. If interest rates start to come down, then gold will bounce back and be able to challenge $1,800 again and get closer to $1820. https://insights.augmont.com/disclaimer

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