Fundamental News and Triggers

•  As the US Dollar and US Treasury bond yields continue their correction ahead of important US jobs data, gold and silver prices have broken their phase of consolidation to the upside and are now pointing north.

• The odds of the Fed raising interest rates at its November meeting have dropped from 57% to 51%, according to the CME Group’s Fed Watch tool, which shows that markets are currently pricing in a 78.5% probability of that outcome.

Technical Triggers

• Gold prices have finally broken the range of $1930-$1950, the next area of resistance is $1980.

• Silver prices are trading in the range of Rs 73000 to Rs 74000, once this range is broken, the next resistance is Rs 75000.

Support and Resistance

 

 

 

 

 

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