Bullion price retreat as new US employment data sends a hawkish signal

  • Gold and Silver – Kya Lagta Hai

    Short-term View (up to 1 week) – Negative– Gold and Silver prices arec ontinuously getting support on uptrend line. As prices have runup too fast, some profit-booking is expected.


    Long-term View (3-4months) – Positive – – Gold has made Inverse Head and Shoulder pattern on daily charts. Neckline resistance is $1820. If prices sustain above it, target would be $2020.

    SPOT Gold Hourly Price Chart
    SPOT Silver Hourly Price Chart
    Important News and Triggers 

    Bullion price retreat as new US employment data sends hawkish signal

    • International News – Bullion prices slipped by more than 1%, putting an end to its New Year rally, as the latest release of US labour market data boosted expectations of higher interest rates for longer.
    • Economic data – New employment data shows that the number of Americans filing new claims for unemployment benefits dropped to a three-month low last week while layoffs fell 43% in December, pointing to a tight labour market



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