Precious Metals rebounds on weaker bond yields and rampant dollar

  • gold and silver – kya lagta hai

    short-term view (up to 1 week) – WeaknessGold has broken support at downtrend channel again, while Silver is continuously trading below its downtrend line from last 5 months

    Long-term view (3-4months) – positive –  – – Any dips towards 50000 and 52000 should be used as buying opportunities for the target of 55000 and 60000 for Gold and Silver respectively by year end.


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    Important news and triggers

    Precious Metals rebounds on weaker bond yields and rampant dol

    • International news –  The precious metals prices edged up on as a rally in U.S bond yields paused, but gains were limited by sustained strength in the dollar and impending aggressive monetary policy decisions.
    • Demand and Supply – – The Fed is largely expected to deliver a 75-basis point rate increase later this month. The U.S. central bank has raised its benchmark overnight interest rate by 225 basis points in total since March to fight soaring inflation.
    •  Economic data – – – The ECB is this week expected to deliver a second big rate hike to tame record-high inflation just as a halt in supplies from a major Russian gas pipeline fans further inflation and recession fears in Europe.
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