Gold struggles below $1900 waiting for Powell speech

    • Gold and Silver – Kya Lagta Hai

      Short-term View (up to 1 week) – Profit-booking – – Next target for Gold and Silver
      is Rs 60000 and Rs 75000. But prices are over bought, some correction expected.

      Long-term View (3-4months) – Positive – – – Gold is on its way to touch $2020 (Rs
      60000) and Silver is on its way to touch $30 (Rs 80000) in 2023.


                                    SPOT Gold Hourly Price Chart

                           SPOT Silver Hourly Price Chart

      Important News and Triggers

      Gold struggles below $1900 waiting for Powell speech

      • International News:  -– – – In the face of sluggish markets ahead of important data and events, gold’s week-start recovery from a one-month low falters. FED officials
        in the US manage the recession’s concerns while defending the Federal Reserve’s hawkish stance.
      • Economic Data– – – Concerns between US-China have appeared to have led to the Gold from its recent support level, but gold buyers should exercise caution in light of
        recent FED stance that might turn hawkish, amid strong US NFP data.



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