Fundamental News and Triggers

• Gold markets are in a tug-of-war at highs, with bears focusing on a potential ceasefire deal in Ukraine and bulls anticipating key U.S. inflation data to gauge the Federal Reserve’s interest rate path amid trade tensions and economic slowdown fears.
• The US agreed to resume military aid and intelligence sharing with Ukraine after Kyiv agreed to a 30-day ceasefire proposal.
• S. President Donald Trump defended his tariff policies during a meeting with CEOs of major American companies. Many of these companies have seen their market value fall due to recession and inflation fears.
• Investors are awaiting U.S. CPI statistics to determine the Fed’s interest rate stance for this year.

Technical Triggers

• Gold prices are consolidated in a range between $2885(~Rs 85400) and $2935(~Rs 86200), prices need to break this range for a decisive move towards upside momentum of $2975 (~Rs 87000).
• Silver May Futures is gaining strength and if sustains above $33(~Rs 96700), the next target is $34(~Rs 100,000), and once it sustains above that, it can head higher towards $35(~Rs 103,000).

Support and Resistance

 

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