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
|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.