Fundamental News and Triggers
• The rising dollar is putting pressure on the prices of gold and silver. The recent increase in the DXY and yields may have been prompted by President Austan Goolsbee of the Federal Reserve Bank of Chicago’s hawkish remarks.
• Fears of further US-China conflict amid Beijing’s recent announcement to restrict drone exports in
retaliation to US tech and trade war tactics, by citing “national security” measures, may also be
supporting the US dollar’s strength.
• Gold is expected to trade in the range of Rs Rs 58800 and Rs 60000 for the next few days.
• Last week’s low of Rs 73400 in Silver is very crucial, if broken can drag prices to Rs 71000.
Otherwise, if we see recovery, the next resistance is Rs 75000
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.