Fundamental News and Triggers

• Gold prices rebound due to rising global trade concerns caused by US auto tariffs. US President Donald Trump announced a 25% tariff on imported vehicles and light trucks beginning next week, escalating the global trade war. The deadline for retaliatory duties from the world’s largest economy is April 2.
• Investors are looking forward to Friday’s U.S. personal consumption expenditures data, which may provide insight into the country’s interest rate path.
• According to World Gold Council data, global gold ETFs saw $3 billion in net inflows last week alone, or around 31 tons of gold. That was the seventh straight week of inflows, with North America accounting for the majority of the purchases. Year-to-date, global net inflows have exceeded $19 billion (207 tons), putting 2025 on track for the strongest Q1 since 2022.

Technical Triggers

• Gold has strong support at $3010 (~Rs 87200), if prices fall below this level, we could see further retracement and profit-booking in prices up to $2985 (~Rs 86500). While if prices sustain above $3040 ( ~Rs 88200), they can again head higher towards $3080(~Rs 90000)
• Silver is trading in a range of $33 (~Rs 97000) to $35(~Rs 102,000) from the last few days. Buy on dips and sell on rallies should be the strategy used.

Support and Resistance

 

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