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.
• 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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