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 price is consolidating the recent corrective decline from three-month highs of $1787, as a tug-of-war between bulls and bears plays out heading into the Thanksgiving week. The path of least resistance appears to the upside towards $1800 for gold price.
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.