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Gold and Silver – Kya Lagta Hai
Short-term View (up to 1 week) – Profit-booking– – Next target for Gold and Silver
is Rs 60000 and Rs 75000. But prices are over bought, some correction expectedLong-term View (3-4months) – Positive – – – Gold is on its way to touch $2020 (Rs
60000) and Silver is on its way to touch $30 (Rs 80000) in 2023.SPOT PRICES
SPOT Gold Hourly Price Chart
SPOT Silver Hourly Price Chart
Important News and Triggers
US Employment data could set the further direction in bullion prices
- International News: -– FED meeting concluded and supported the gold prices as Dollar Index fell below 101 levels on dovish comments from the members. The US
labour market and Nonfarm Payrolls event is a critical component of the US interest rate outlook and setting further direction for bullion. - Indian News– – – There were two major announcements in Union Budget 2023 for Bullion Industry. Firstly, Import Duty on Silver bar increased from 10.75% to 15% at
par with Gold and Platinum. Secondly, conversion of physical form of Gold into EGR and vice versa was exempted from Capital Gain Tax.
- International News: -– FED meeting concluded and supported the gold prices as Dollar Index fell below 101 levels on dovish comments from the members. The US
