Precious Metals sees profit-booking as US bets on hawkish Federal Reserve

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Gold and Silver – Kya Lagta Hai

Short-term View (up to 1 week) –Sideways to Positive-Gold is expected to trade in range of 50300 to 51800 while Silver is expected to trade in a range in the range of 65000 to 68000

Long-term View (3-4months) -Positive – Any dips towards 50000 and 65000 should be used as buying opportunity for the target of 55000 and 75000 for Gold and Silver respectively

SPOT Prices
  Unit Sell High Buy Low
Gold 999 (Mum)w/o GST Rs/10gm 51289 51510 51389 51164
Silver 999 (Mum)w/o GST Rs/ Kg 65882 66343 66682 65424
Gold AM Fix (London) $/Oz 1933.35 1933.35 1933.35 1256.8
Gold PM Fix (London) $/Oz 1929.4 1942.15 1929.4 1255
Silver Fix (London) $/Oz 24.69 24.815 24.69 15.91
SPOT Gold Daily Price Chart
SPOT Silver Daily Price Chart
Important News and Triggers
    • International News–US Treasury yields surged in response and the US dollar gained ground, dampening bullion’s appeal, as it generates no interest and is priced in the greenback
    • Demand & Supply–Gold remains supported by continued buying in Global ETF with daily accumulation seen an acceleration. World total ETF Holding are at 13-month high at 3286 tonnes, up 80 tonnes during the March month
    • Economic Data –US added close to half a million jobs last month and the unemployment rate fell by more than expected.
    • Domestic News Around40 lakh weddings are expected to happen in India in April and May, which is likely to boast Gold demand.

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