Fundamental Q News and Triggers

• Yesterday, data from Germany suggested that a recession had started. Meanwhile, British firms
reported another monthly drop in activity, highlighting recession fears ahead of the Bank of
England’s interest rate announcement next week.

• Despite high yields, gold has increased by about 9% in the last two weeks, reaching five-month
highs.

• Investors are keeping a tight eye on the escalating Israel-Hamas war, which has the potential to
disrupt supply lines and escalate into a broader crisis. This increased scrutiny is adding to gold’s
allure as a safer investment alternative.

Technical Triggers

• As suggested gold prices will touch Rs 61000 and then retrace, the same thing happened. Now prices
are expected to consolidate here for a while.

• As suggested Silver prices will touch Rs 73500 and then retrace, the same thing happened. Now prices
are expected to consolidate here for a while.

Support and Resistance

 

 

 

 

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