National News
Gold consolidates in the $50 range before a decisive move: Augmont Bullion Report
Gold prices are consolidating in a range between $2885 and $2935, spurred by a weaker US dollar and safe-haven flows as fears about the US economy grow amid growing trade tensions.
Concerns over a probable economic slowdown were heightened after President Donald Trump stated that the US economy was in a moment of transition while refusing to rule out the chance that his policies would create a recession.
This comes after the United States delayed imposing 25% tariffs on several Canadian and Mexican imports for a month, while Canada maintained its first retaliatory measures. China also levied further duties on some American agriculture products in reaction to Trump’s latest tariff increases on Chinese imports. Meanwhile, Fed Chair Jerome Powell acknowledged increased economic uncertainties but expressed no need to decrease interest rates.
Investors are now looking forward to US inflation statistics later this week, which may impact the Fed’s monetary policy position.
Technical Triggers
Gold prices are consolidating in a range between $2885(~Rs 85400) and $2935(~Rs 86200), prices need to break this range for decisive move towards upside momentum of $2975 (~Rs 87000).
Silver May Futures is gaining strength and if sustains above $330(~Rs 96700), the next target is $340(~Rs 100,000), and once it sustains above that, it can head higher towards $350(~Rs 103,000).
National News
MCX Gold, Silver Futures Surge
While Precious Metals Staged A Modest Recovery The Broader Bullion Market Remains Near Nine-Month Lows.
Domestic and global commodities markets experienced significant upward momentum in early Monday trading. While precious metals staged a modest recovery—led by a strong performance in silver—the broader bullion market remains near nine-month lows. MCX: Gold futures rose by 0.3%, while silver outpaced the broader bullion complex with gains exceeding 1%. Spot gold traded marginally higher, hovering near $4,020 per ounce. Spot silver demonstrated robust momentum, surging 2% to trade near $57 per ounce. Despite recent headwinds, the bullion market saw positive inflows during early trading sessions.
MCX Gold future has resumed with gapped up this week at 141,364 and started trading over 50-EMA on hourly charts placed at 141,150. Price has inclined today due to continues weakness in Indian Rupee which has weaken further by 15 paisa against US Dollar today.
Crude oil prices continued their steep upward trajectory, gaining approximately 30% from their July lows. This rally follows a severe escalation in the Middle East over the weekend, including fresh U.S. airstrikes in response to the casualties of three American service members, and Iran’s subsequent declaration that its ceasefire with the U.S. has collapsed. Furthermore, Tehran reported the interception of four vessels in the Strait of Hormuz.
-
National News6 minutes agoMCX Gold, Silver Futures Surge
-
National News2 hours agoThis Ashadh, Maharashtra’s Greatest Walk Of Faith Becomes A Jewel: PNGS Unveils ‘Waricha Suvarnasaj’
-
National News2 days agoFind Your Rainbow This Monsoon With Zen Diamond India’s Tören Collection
-
National News2 days agoVBJ Announces ‘Amazing Aadi Sale’ With Exclusive Festive Offers

