Gold faces some barricades but the overall trend positive

    • Gold and Silver – Kya Lagta Hai

      Short-term View (up to 1 week) – Profit-booking Next target for Gold and Silver is Rs 60000 and Rs 70000. But prices are over bought, some correction expected.

      Long-term View (3-4months) – Positive – – Gold has made Inverse Head andShoulder pattern on daily charts. Neckline resistance is $1820. If prices sustain above it, target would be $2020

      SPOT Gold Hourly Price Chart
      SPOT Silver Hourly Price Chart
      Important News and Triggers 

      Gold faces some barricades but overall trend positive

      • Price Outlook: Gold price is struggling to sustain above the immediate resistance of $1930. Hawkish commentary from Fed policymakers is strengthening the US Treasury yields. Overall view is positive, $2000 in International markets and Rs 60000 in domestic markets looks very likely.
      • Economic Outlook– According to a Reuters survey, the Fed will pause the policy tightening program after two 25 bps rate hikes.



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