Gold steady, eyeing $1800

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 Prices

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.


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