Fundamental News and Triggers

• Since the last few sessions, gold and silver have been trading at low levels as investors have shifted to the dollar due to deteriorating market sentiment and the possibility of additional Federal Reserve rate hikes.

• Before the inflation reading, investors continued to favour the dollar as a safe-haven because of
the declining global risk sentiment brought on by Moody’s downgrading of several U.S. banks and
the disappointing Chinese trade data.

• Prices for gold and silver are anticipated to continue declining until a new catalyst emerges to
support the prices.

 

Technical Triggers

• Gold is trading in the range of Rs 58800 and Rs 60000, either side breakout will set further
direction..

• Silver prices are trading at a crucial support level, breaking this will lead to a fast selloff towards Rs
68000 

Support and Resistance

 

 

 

 

 

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