• In 2025, gold has risen by 65% and silver by 150%, indicating a year of tremendous gains and positioning the precious metal for its best yearly performance in more than four decades.
• Persistent geopolitical concerns, US interest rate decreases, sustained central bank purchases, and increased holdings in gold-backed ETFs all boosted gold prices. Silver achieved several milestones in 2025, thanks to its status as a vital US commodity, supply constraints, low stocks, and increased industrial and investment demand.
• Meanwhile, the Federal Reserve’s December meeting minutes, released on Tuesday, showed that most officials believe more rate cuts are justified if inflation continues to decline, while they disagreed on the timing and extent of prospective reductions.
• On the geopolitical front, uncertainties around a Russia-Ukraine peace accord, rising hostilities in the Middle East, and tensions between the United States and Venezuela are driving up demand for the safe-haven commodity.

Technical Triggers        

• Gold prices are expected to consolidate in the range of $4320 (~Rs 134,000) and $4420 (~Rs 137,000) after this sharp rally and sell off this week.
• Silver prices are expected to consolidate between $70 (~Rs 223,000) and $78 (~Rs 250,000), after the sharp rally and sell off this week.

Support and Resistance

Source: AUGMONT BULLION REPORT