Gold and Silver steady around 60000 and 75000 respectively

Fundamental News and Triggers

On the basis of the expectation that the Federal Reserve might stop raising rates after the May FOMC meeting, market participants have been steadfastly bullish on gold and silver. Strong bullish market sentiment for gold pricing has been sparked by the expectation that the Fed will stop raising rates after one final 25bps hike in May.

The Federal Reserve will need to take a break at some point to evaluate the results of raising rates at every FOMC meeting since March 2022 because there is an inherent lag between rate hikes and the effect on contracting the economy.

During this week, market participants will continue to pay close attention to any additional remarks made by Fed officials before the Fed’s standard blackout period, which will start on April 22, ahead of the May FOMC meeting.


Technical Triggers

Gold prices are consolidating in the range of $1984 (Rs 60000) to $2050 (Rs 61300) from last few days, prices need to break this range to move higher.

Silver has seen 30% rally from $20 to $26, prices are retracing now, with next 23.6% fibonnici support at $24.6(Rs 73800)

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.


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