Precious Metals seesaws between gain and losses

Reading Time: 2 minutes
  • Gold and Silver – Kya Lagta Hai

    Short-term View (up to 1 week) – NegativeGold is consolidating in range of 50000 and 51000, while Silver is in downtrend trading below 54000

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

    SPOT PRICES
    SPOT Gold Hourly Price Chart
    SPOT Silver Hourly Price Chart
    Important News and Triggers 

    Precious Metals seesaws between gain and losses

    • International News – price seesawed between tepid gains/minor losses around $1700 and Silver around $19. The ongoing USD profit-taking slide from a 20-year low, weaker US bond yields offered support.
    • Demand and Supply – Aggressive Fed rate hike bets, a positive risk tone acted as a headwind and capped the upside.
    • Economic Data– It was plausible for the Fed funds rate to be “higher than 4% by the end of the year if data continues to come in in an unfavorable way.
    • Domestic News– India’s gold imports in June nearly trebled from year-ago levels as prices corrected.
    1. https://insights.augmont.com/disclaimer ko
Share on

Leave a Reply

Your email address will not be published. Required fields are marked *

Fill out this field
Fill out this field
Please enter a valid email address.
You need to agree with the terms to proceed

Menu