Precious Metal gains momentum again

Fundamental Q News and Triggers

Demand for a traditional safe-haven asset like gold has increased as a result of the rising geopolitical
tensions between Israel and Hamas. Authorities in Gaza said 500 people were killed by an Israeli airstrike on a hospital on Palestinian territory yesterday, but Israel claimed a Palestinian attack was to blame for the damage. 

Participants in the market will keep an eye on China’s third-quarter GDP, industrial production, and
retail sales due today.

Technical Triggers

Until gold prices sustain above $1900 (Rs 58000), Gold prices will continue their upward momentum
towards Rs $1960 (Rs 60000).

Silver has given a bullish reversal, bouncing back on its uptrend line and crossing the resistance above
$23. The next target is $24.5 (Rs 73500). 

Support and Resistance





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