Fundamental Q News and Triggers

• Bullion prices are trading stable after rebounding as the dollar fell, reflecting a drop in US Treasury yields pushed down by dovish Federal Reserve comments, as traders searched for clues on the central bank’s interest rate outlook in the policy meeting minutes released later in the day.

• Several Fed officials have recently indicated that the US central bank may not need to tighten monetary policy as much as previously assumed.

• The focus now shifts to the minutes of the Fed’s September policy meeting, which will be released later today and may provide additional insight into the Fed’s interest rate forecast. Tomorrow, the United States’ inflation data is due.

 

Technical Triggers

• From current levels of Rs 57500, it appears that this momentum will likely continue in the short term, at least to the next resistance levels of Rs 58000 and 58500.

• While silver can be bought near Rs 68000 for short-term targets of Rs 70000 and Rs 72000.

Support and Resistance

 

 

 

 

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