Bullion prices vulnerable in the absence of cues

Fundamental News and Triggers

• Because of the uncertainty surrounding the Federal Reserve’s next move and the expectation of higher inflation reading this week, the dollar and Treasury yields are rising, making gold and silver prices vulnerable.

 

• Over the past week, there has been an increase in dollar and bond market positioning, with the dollar increasing in anticipation of a CPI reading on Thursday that is anticipated to show some signs of sticky inflation.

 

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 weak from the last few sessions, the next support to watch for is Rs 70300.

Support and Resistance

 

 

 

Disclaimer: This report contains the opinion of the author, which is not to be construed as investment advices. The author, Directors, other employees of Augmont Enterprise Private Ltd. and its affiliates cannot be held responsible for the accuracy of the information presented herein or for the results of the positions taken based on the opinions expressed above. The above-mentioned opinions are based on the information, which is believed to be accurate, and no assurance can be given for the accuracy of the information. The author, directors and other employees and any affiliates of Augmont Enterprise Private Ltd cannot be held responsible for any losses in trading. In no event should the content of this research report be construed as an express or an implied promise, guarantee or implication by or from Augmont Enterprise Private Ltd. that the reader or client will profit or the losses can or will be limited in any manner whatsoever. Past results are no indications of future performance. Information provided in this report is intended solely for informative purposes and is obtained from sources believed to be reliable. The information contained in this report is no way guaranteed. No guarantee of any kind is implied or possible where projections of future conditions are attempted. We do not offer any sort of portfolio advisory, portfolio management or investment advisory services. The reports are only for information purpose and are not to be construed as investment advices.

 

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