Fundamental News and Triggers

• Gold was on track for a third straight week of gains today, following three consecutive record highs this week, fueled by the Federal Reserve’s rate drop forecasts for the year and safe-haven demand amid geopolitical and economic uncertainty.
• President Donald Trump’s initial initiatives, which included extensive import tariffs, appear to have pushed the US economy toward slower growth and, at least temporarily, higher inflation.
• Meanwhile, geopolitical tensions remain persistent as 91 Palestinians were killed in bombings across Gaza on Thursday, when Israel restarted bombing and military operations, effectively breaking a two-month-old ceasefire.

Technical Triggers

• If Gold Apr Futures fall below $3030 (~Rs 88200), we could see further retracement and profit-booking in prices up to $2985 (~Rs 87000).
• While Silver after achieving the target of $35 (~Rs 102,000) is retracing back. If prices sustain below $33.65 (~Rs 98500), more weakness could be observed.

Support and Resistance

 

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