Precious Metals regaining momentum again

Fundamental News and Triggers

Gold has reached its highest levels in two months, rising above $1985 on expectations that the Federal Reserve is nearing the end of its current cycle of tightening monetary policy due to slowing US inflation.

Investors are now anticipating the US’s initial Jobless claims data for hints about the health of the labour market.


Technical Triggers

As stated, Gold has cleared resistance of Rs 59600, the next level to look for is 60,000 and 60500

Silver has started its new bull run, crossing all major resistance. The next level to watch for is $26 (Rs 78000), if that is cleared, we can see prices touching $30 (Rs 88000-90000) as the next target.


Support and Resistance





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