Fear of Missing Out (FOMO) hits Gold markets

Fundamental News and Triggers

The gold market is exploding, with prices having their best week in three years amid the banking sector’s fallout. Fearful of missing out on this rally, risk-averse investors rushed to buy.

The Federal Reserve monetary policy meeting, which markets had been anticipating all week, is now on the horizon. Markets are pricing in a 25-basis-point increase for Wednesday, but investors are more concerned with the possibility of a pause and subsequent rate cuts.

Technical Triggers

Last week rally in gold has explosive and Gold is in overbought zone, next resistance is Rs 60000

Silver is getting bids as Gold prices rise, Next target for Silver are Rs 70000 in short-term and Rs 75000

Support and Triggers




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