Gold and Silver – Kya Lagta Hai
Short-term View (up to 1 week) – Positive – – A small healthy correction in Gold can drive prices lower upto 54000 and 53700
Long-term View (3-4months) – Positive – – – Any dips towards 51000 and 55000 should be used as buying opportunities for the target of 55000 and 65000 for Gold and Silver respectively in long-term.
SPOT Gold Daily Price Chart
SPOT Silver Daily Price Chart
Important News and Triggers
- International News – – – Gold prices hit a three-month high on Wednesday after a Russian missile strike on Polish territory ramped up fears of a NATO-led escalation in the Ukraine conflict, boosting demand for traditional safe haven assets.
- Geopolitical worries – This escalation has led to missiles landing in Poland and killing two people in an explosion in Przewodow, a village in eastern Poland approximately 10 km from the border with Ukraine. Concerns have emerged that because Poland is a member of NATO, the Russian missile strike could certainly risk widening the war in Ukraine.