Precious Metal tick higher on China demand and dollar pullback
Gold and Silver – Kya Lagta Hai
Short-term View (up to 1 week) – Positive – – Gold and Silver prices are seeing rebound as MACD Indicator has reversed in 4-Hourly chart and giving buy signal.
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 4 Daily Price Chart
SPOT Silver 4 Daily Price Chart
Important News and Triggers
International News –Precious Metals ticked higher as a retreat in the dollar made bullion more attractive for other currency holders, drawing further support from some safe-haven demand from China amid wide protests over its strict COVID-19 curbs.
Monetary Policy – Investors’ focus this week will be on Federal Reserve Chair Jerome Powell’s Wednesday speech on the U.S. economy and labour market for clues on the monetary policy outlook.
