Gold and Silver – Kya Lagta Hai
Short-term View (up to 1 week) – Positive – – – Gold and Silver prices are seeing rebound and cleared their recent highs. Next resistance for gold is $1820 and for Silver $24
Long-term View (3-4months) Positive – – Gold has made Inverse Head and Shoulder pattern on daily charts. Neckline resistance is $1820. If prices sustain above it, target would be $2020.
SPOT Prices
SPOT Gold Daily Price Chart
SPOT Silver Daily Price Chart
Important News and Triggers
International News –– Precious Metals price could gain traction given the market feedback to soft CPI figures. Ahead of the Christmas holiday, however, trading conditions could thin out and cause the reaction to remain short-lived. On the other hand, a stronger-than-forecast monthly Core PCE inflation should have the opposite effect and weigh on precious metal pack
Economic Data – – – Precious Metals price could gain traction given the market feedback to soft CPI figures. Ahead of the Christmas holiday, however, trading conditions could thin out and cause the reaction to remain short-lived. On the other hand, a stronger-than-forecast monthly Core PCE inflation should have the opposite effect and weigh on precious metal pack
FED Hawkishness – Interest rates and inflation continue to drive markets, with a hawkish Federal Reserve hiking rates by 0.50%, with the promise of more to come, despite softer than expected CPI data, with headline annual inflation in the US dropping to 7.1% in the year to end November.
1 Comment. Leave new
Your point of view caught my eye and was very interesting. Thanks. I have a question for you.