Sone pe Chandi Free’ offer from Augmont on this Akshaya Tritiya

Gold and Silver – Kya Lagta Hai

Short-term View (up to 1 week) –  As Gold and Silver have retraced, prices are oversold, and we could see bottom fishing supporting prices this week. Long-term View (3-4months) – Positive – Any dips towards 50000-51000 and 62000-63000 should be used as buying opportunities for the target of 55000 and 75000 for Gold and Silver respectively

SPOT Prices

                                                                                                         SPOT Gold Daily Price Chart  
SPOT Silver Daily Price Chart
Important News and Triggers
  • International News – – Dollar index has sustained above 100 for entire week leading to US dollar (USD) climbing to 20-year high levels.
  • Demand & Supply – Global central bank gold reserves fell by 4t in March, flipping back to net sales following healthy net purchases of 32.3t in February.
  • Economic Data –  US FED’s upcoming meeting and Fed officials announcing interest rate hike by 50 bps in next week’s meeting worked as a break on any rise in gold price.
  • Domestic News–Augmont has come with offer of “Sone pe Chandi Free” this Akshaya Tritiya, where you get equal grammage of Digi Silver free on purchase of Digi Gold.  

Disclaimer

Category: Daily Report
technical
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