Gold and Silver prices lacklustre on US Debt ceiling talks advance

Fundamental News and Triggers

Gold and Silver prices are trading lackluster as US Debt ceiling talks are progressing and likely to conclude by the end of this week.

Dollar index has advanced to two months high as it is getting safe-haven bids.

On the positive side, prices are getting support from the news that FED has done with its rate rise. It will pause for next 2-3 months and raise rates by the end of the year.



Technical Triggers

Gold prices have strong psychological support at $1950 (59500) which could be used as buying opportunity as long-term view is still bullish.

Silver prices are likely to get support around current levels of $23 (Rs 70000). Long-term view is still bullish, buy on dips.

Support and Resistance


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