Fundamental News and Triggers
• A stronger dollar and rising yields have pressured the price of gold and silver, which has resulted in
significant price declines over the past week. Investors bets that U.S. interest rates will stay higher
for longer this year contributed to traders shift towards the dollar as risk appetite declined.
• The FED is more motivated to maintain high rates and strict policy in the presence of any
indications of sticky inflation, which is bad news for non-yielding assets like gold.
• Gold is trading in the range of Rs 58800 and Rs 60000, either side breakout will set further
• Silver prices are trading at a crucial support level, breaking this will lead to a fast selloff towards Rs
Support and Resistance
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