Precious Metal continue to advance amid geopolitical worries
Gold and Silver – Kya Lagta Hai
Short-term View (up to 1 week) – Positive – – Gold Bull run has started. At above the 50-week EMA of $1771, the next leg higher for gold sits at $1796-$1805
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 – – – Russia’s invasion of Ukraine has been escalating to accelerated levels of military action. Russia rained missiles on cities across Ukraine on Tuesday in what Ukraine said was the heaviest wave of missile strikes in nearly nine months of war. This has raised geopolitical uncertainty in the region to a new and heightened level which is been highly supportive of gold prices
Economic Data – – 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.
