Fundamental News and Triggers
Gold and Silver retreat on easing geopolitical tensions
- Gold and silver erased recent gains, snapping a two-day rebound as renewed selling pressure and heightened volatility returned to precious-metal markets.
- China’s gold ETFs witnessed record daily outflows, with nearly $1 billion withdrawn from major bullion-backed funds after the sharp price correction unsettled investor confidence.
- On the geopolitical front, Iran–US talks are scheduled for Friday, while President Trump held wide-ranging discussions with China’s Xi Jinping ahead of a proposed April visit, following Xi’s recent virtual meeting with Russia’s Vladimir Putin.
- US ADP data showed private payrolls rose by just 22,000 in January, well below expectations of 48,000.
- Fed Governor Lisa Cook signaled resistance to further rate cuts, citing persistent upside inflation risks despite signs of labor-market cooling.
Technical Triggers
- In the short term, gold prices are likely to remain weak and consolidate within the $4,550–$5,100 range (~₹140,000–₹160,000). A buy-on-dips and sell-on-rallies approach is advisable. A decisive break below $4,550 could open the door toward the next support near $4,200 (~₹130,000).
- Silver is also expected to trade weak and consolidate in the $74–$91 range (~₹235,000–₹285,000). Traders should follow a buy-on-dips, sell-on-rallies strategy. A breakdown below $74 may trigger further downside toward $69 (~₹220,000).
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