Gold and Silver – Kya Lagta Hai
Short-term View (up to 1 week) – Positive – – – Gold and Silver prices are continuously getting support on uptrend line. Next resistance for gold is 55000 and for Silver 70000
Long-term View (3-4months) Positive – – Gold has made Inverse Head and Shoulder pattern on daily charts. Neckline resistance is $1820. If prices sustain above it, target would be $2020.
SPOT Prices
SPOT Gold Daily Price Chart
SPOT Silver Daily Price Chart
Important News and Triggers
International News –– Gold is trading well above the resistance of $1820 and Silver above $24 before the year’s last trading day. The next year is expected to have a strong start with solid closing that we could see of the month, quarter and year..
Economic data – The US Dollar faced immense heat after an acceleration in the number of weekly jobless claims. Individuals who claimed for the first time for the week ending December 23 rose to 225K. This highlighted a slowdown in the employment process by firms led by higher interest rates