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 and Silver Remain Under Pressure; Analysts Advise Sell-On-Rise Strategy
Traders Should Monitor Global Economic Developments, US Dollar Movements, Central Bank Policy Signals, Interest Rate Expectations, Geopolitical Events, and Industrial Demand Trends
Precious metals continued to face selling pressure on the Multi Commodity Exchange (MCX), with technical indicators pointing to a bearish outlook for both gold and silver in the near term,
MCX Gold opened lower, reflecting weak market sentiment and an ongoing downtrend characterized by lower highs and lower lows. Analysts identify the Rs. 152,000 level as a key resistance zone, where any recovery is likely to attract fresh selling interest. Gold is expected to test support around Rs. 140,000, while a sustained move above Rs. 157,000 could invalidate the bearish outlook.
Silver is also trading with a cautious-to-negative bias, with market participants favoring a sell-on-rise strategy. The Rs. 240,000 level remains a significant resistance area, and any rally towards this zone could trigger renewed selling. On the downside, silver is expected to move towards Rs. 225,000, while a break above Rs. 249,000 may signal a reversal in trend.
Market experts advise traders to closely monitor global economic developments, US dollar movements, central bank policy signals, interest rate expectations, geopolitical events, and industrial demand trends, all of which could influence precious metal prices and increase short-term volatility.
Overall, the near-term bias remains cautious to negative, with prices attempting to stabilize near a key support level. A breakout above immediate resistance is required to improve sentiment and stabilize the structure, while geopolitical developments, safe-haven demand, and broader market volatility continue to influence price direction.
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