Fundamental News and Triggers
Precious Metals retreat after touching record highs
- Gold and silver pulled back sharply from their record highs of $4,650 and $93, respectively, after U.S. President Donald Trump refrained from announcing new tariffs on imports of critical minerals. Instead, Trump said the U.S. would pursue negotiations with foreign nations to secure adequate supplies and quickly reduce supply-chain risks. That said, the White House left the door open to imposing import restrictions if talks fail to deliver timely results.
- Safe-haven demand also cooled after Trump said he had been assured that executions of protesters in Iran had stopped, easing fears of an imminent U.S. military response.
- Meanwhile, markets continue to assess how aggressively the Federal Reserve may ease policy amid global uncertainty. November producer price inflation—both headline and core—came in softer than expected, reinforcing signals from the benign December consumer inflation data. Together, these readings have strengthened expectations that the Fed has room to deliver multiple rate cuts this year.
Technical Triggers
- Gold has decisively broken above its earlier resistance at $4,570, opening the door to higher levels. The next key targets are $4,745–4,750 (78.6% Fibonacci extension, ~₹1,46,000) and $4,966–4,970 (100% Fibonacci extension, ~₹1,52,500).
- As suggested Silver has touched the target resistance of $93(~₹2,91,000). We can witness some profitbooking and retracement upto $84 (~Rs 260,000), before prices move higher again.
Disclaimer: This report contains the opinion of the author, which is not to be construed as investment advice. The author, directors, and other employees of Augmont Enterprise Private Ltd. and its affiliates cannot be held responsible for the accuracy of the information presented herein or for the results of the positions taken based on the opinions expressed above. The above-mentioned opinions are based on information that is believed to be accurate, and no assurance can be given for the accuracy of the information. The author, directors, other employees, and any affiliates of Augmont Enterprise Private Ltd. cannot be held responsible for any losses in trading. In no event should the content of this research report be construed as an express or implied promise, guarantee, or implication by or from Augmont Enterprise Private Ltd. that the reader or client will profit or that the losses can or will be limited in any manner whatsoever. Past results are no indication of future performance. The information provided in this report is intended solely for informative purposes and is obtained from sources believed to be reliable. The information contained in this report is in no way guaranteed. No guarantee of any kind is implied or possible where projections of future conditions are attempted. We do not offer any sort of portfolio advisory, portfolio management, or investment advisory services. The reports are only for information purposes and are not to be construed as investment advice.
