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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