Daily Reports

FED may cut interest rates sooner than expected

Daily Report

Gold is still trading between $2300 and $2350 following the Federal Reserve meeting and the US CPI data release. As predicted, the Fed reduced its Dot Plot-based interest rate decrease estimates. The median interest rate projection for this year is 5.1%, up from 4.6% in March.

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$2300 is a difficult nut to crack

Daily Report

Bullion market players await economic projections, dot plot trajectory and a speech by the FED chairman after FOMC concludes its meeting today. Tomorrow we have US CPI data, which is also important for future interest rate trajectory. The next two days will be very volatile for Gold with $2300 as important support and a difficult nut to crack.

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Gold and Silver stuck in tug-of-war

Daily Report

Gold and Silver are stuck in a tug-of-war for bullish and bearish drivers. Strong investment and retail demand are not allowing the Gold prices to fall below $2300. FED rate cut delay and subsidizing geopolitical tensions are creating a floor on the Gold prices above $2400.

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Gold and Silver topped out in the short-term

Daily Report

This week saw a new all-time high for gold, but it didn’t take long for it to start declining again; it’s presently headed for its worst weekly decline since the end of last year. As suggested, Gold has double topped and is expected to retrace to $2345-50 (Rs 72000), the same thing happened. Now this retracement is expected to continue towards $2300 (Rs 70500).

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Silver seems to be topped out amid hawkish FED stance

Daily Report

As suggested in yesterday’s report, if silver prices retrace below $31 (Rs 92000), it means it has topped out and we can see a correction towards Rs 90000 and Rs 87500. Prices ran up very fast and were trading in the overbought territory this week, so this retracement was due for the healthy bull market.

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Bullion prices consolidate at a record high level

Daily Report

The price of gold and silver consolidates at record highs, building momentum for further gains. Financial markets anticipate two cuts of one-quarter percentage points before the end of the year, with the first cut occurring at the earliest possible date in September. This is a negative trigger for bullion.

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Gold and Silver retreat after trading above Rs 74000 and Rs 95000

Daily Report

Gold has made double top around $2450, prices are expected to retrace now towards $2380. Silver prices are getting bullish support from positive momentum in gold and copper price. Silver has strong support at Rs 92000, if prices sustain below this level, it means it has topped out and expected to retrace further towards Rs 90000 and Rs 87500.

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