Daily Reports

Gold and Silver consolidating around $2400 and $28 respectively

Daily Report

The quest for a safe haven remains strong due to the growing geopolitical tensions in the Middle East. In retaliation for Iran’s attack on Israel, the US issues a warning regarding sanctions. The Fed’s “higher for longer” interest rate policy counteracts the demand for safe haven assets, but the price of gold is still rising.

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Gold in wait-and-see mode, around $2400

Daily Report

Iran’s attack on Israel increased demand for safe havens, which in turn drove up the price of bullion, although significant increases were hampered by the strength of the dollar. Although it appears that most of the tension between Iran and Israel has been priced into gold prices, fresh friction or retaliation would likely drive prices higher.

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Gold still has all legs to run to $2400

Daily Report

As tensions between Israel and Hamas continue to rise, the price of gold rises beyond $2380. Strong demand for safe-haven assets amid escalating global tensions is balancing the negative effects of diminishing expectations that the Federal Reserve would switch to rate reduction in June, which is why the precious metal is still rising.

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Gold continues its bull run above $2300

Daily Report

After Federal Reserve Chair Jerome Powell reaffirmed that recent data on job gains and higher-than-expected inflation do not significantly alter the broader picture of economic policy this year, gold prices shot to yet another new high today, reaching $2323.

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Gold crosses $2300 amid rising Middle East tensions

Daily Report

Gold surges beyond $2300 (~Rs 69400), propelled by robust US data and concerns in the Middle East. Gold’s latest surge was supported by Israel’s attack on the Iranian embassy in Syria on April 1, even though this week saw a spike in US rates and a strengthening US dollar.

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A new bull run in gold

Daily Report

The price of gold reached a new all-time high of $2286 (about Rs 69485) yesterday, and two main drivers are supporting this remarkable rise. As oscillators are in the overbought zone, we could see some profit-booking or retracement going ahead.

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Gold faces $2200 resistance again

Daily Report

Gold prices surged above $2200, taking advantage of a little decline in the US dollar, but they were unable to maintain the gains. As U.S. consumer confidence fell to 104.7, below the predicted level of 106.9, the gold market remained steady and consolidated its recent gains.

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