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Gold and Silver – Kya Lagta Hai
Short-term View (up to 1 week) – Profit-booking– – Gold and Silver prices are
continuously getting support on uptrend line. As prices have runup too fast, some
profit-booking is expected.Long-term View (3-4months) – Positive – – – Gold has made Inverse Head and
Shoulder pattern on daily charts. Neckline resistance is $1820. If prices sustain
above it, target would be $2020.SPOT PRICES
SPOT Gold Hourly Price Chart
SPOT Silver Hourly Price Chart
Important News and Triggers
Bullion price retreat as new US employment data sends hawkish signal
- International News: -– – Bullion prices slipped by more than 1%, putting an end to its New Year rally, as the latest release of US labour market data boosted expectations
of higher interest rates for longer. - Economic Data– – – – New employment data shows that the number of Americans filing new claims for unemployment benefits dropped to a three-month low last week
while layoffs fell 43% in December, pointing to a tight labour market.
- International News: -– – Bullion prices slipped by more than 1%, putting an end to its New Year rally, as the latest release of US labour market data boosted expectations
