Gold and Silver – Kya Lagta Hai
Short-term View (up to 1 week) – Rebound – – Gold Bull run has started. At above the 50-week EMA of $1771, the next leg higher for gold sits at $1796- $1805
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 Prices
SPOT Gold Daily Price Chart
SPOT Silver Daily Price Chart
Important News and Triggers
- International News – – – Gold prices hovered near three-month highs on Tuesday as mixed signals from Federal Reserve officials on the path of U.S. interest rates kept the dollar pinned to recent lows
- Economic Data – – Markets are now pricing in an over 80% chance that the Fed will hike rates by a relatively smaller 50 basis points in December. But the hike will still put interest rates at their highest since the 2008 financial crisis.
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