Fundamental News and Triggers
Precious Metals scale to a new high again
- Gold and Silver continue their uptrend, setting new all-time highs as investors anticipate two interest rate cuts in early 2026.
- Fed Governor Christopher Waller, a strong candidate for the Fed chairman, expressed support, saying US borrowing costs should be reduced by up to one percentage point. Waller cautioned that job growth has fallen to near-zero levels and advocated for gradual rate decreases next year to assist boost employment.
- Meanwhile, geopolitical tensions are rising, as the US moved to halt all sanctioned Venezuelan oil shipments following last week’s tanker seizure and military deployment, while in Ukraine, Russian President Vladimir Putin reiterated his firm stance on territorial demands, even as Washington intensified efforts to broker a diplomatic resolution.
- The market is now focused on the delayed CPI report, BOE rate decision, and ECB rate decision, all of which are due later today.
Technical Triggers
- As suggested, Gold has touched the resistance of $4380 (~Rs 135,000), rising from support $4300 (~Rs 133,000) this week. Now prices are expected to consolidate in this same range. Either side breakout or breakdown will infuse a 2-3% rally.
- As suggested, Silver has touched the resistance of $67 (~Rs 208,000). Prices are expected to consolidate at these levels. The uptrend is expected to continue if prices are trading above $62 (~Rs 194,000) support. Next target resistance is $70 (~Rs 218,000) and $72 (~Rs 224,000).
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.
