• Safe Heaven Dynamics – Gold and Silver prices are currently influenced by competing macro forces. On one side, escalating geopolitical tensions in the Middle East are sustaining demand for safe-haven assets. On the other hand, the strengthening U.S. dollar and rising Treasury yields are limiting the metal’s upside, as higher yields increase the opportunity cost of holding non-yielding assets like gold.
• Geopolitical Developments – Tensions in the Middle East continue to keep investors cautious. The United States and Israel have intensified airstrikes on Iran, with some observers describing them as among the most aggressive attacks of the conflict so far. These developments have dampened earlier expectations of a near-term ceasefire, despite U.S. President Donald Trump suggesting that the conflict could conclude soon. 
• Central Bank Buying – Official sector demand remains supportive for gold prices. China’s central bank added gold to its reserves for the 16th consecutive month in February, increasing its total holdings to 74.2 million ounces, according to official data. Sustained central-bank accumulation continues to provide structural support to the gold market by reinforcing long-term demand for the metal.

Technical Triggers        

• Gold continues to maintain a bullish bias, with prices expected to move towards $5250 (~ Rs.163,500) and $5300 (~ Rs.165,000) in the near term. Strong support is seen around the $5000 (~ Rs.158,500) level, which is likely to act as a key buying zone on any corrective dips.
• After achieving the target of $90, Silver also remains firmly supported and is continuing its upward momentum, with the next upside target seen around $95 (~ Rs.285,000). On the downside, strong support is placed near $80 (~ Rs.260,000), suggesting that any short-term corrections could attract fresh buying interest.

Support and Resistance

Source: AUGMONT BULLION REPORT