Fundamental News and Triggers

• The financial markets are seeing a surge in risk aversion following the confirmation that Israeli rockets had attacked an Iranian target, hence intensifying geopolitical tensions in the Middle East.
• Given the continued tensions in Gaza, markets are worried about a potential escalation in violence across Israel’s northern border.
• Fed policymakers crossed the lines on Thursday. Raphael Bostic of the Atlanta Fed stated that the US central bank still has to do more to control inflation since it is now too high.

 

Technical Triggers

• In a technical sense, overbought circumstances continue to exist for silver and gold. Therefore, there’s a chance that a downward correction may happen soon.
• One should be very cautious in creating long positions, as we can see correction anytime.

 

Support and Resistance

 

 

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