International News
Precious Metals holds gains on Mideast jitters AUGMONT BULLION REPORT
- 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
| Metal | Market | Support Level | Resistance Level |
|---|---|---|---|
| Gold | International | $5000 / oz | $5300 / oz |
| Gold | Domestic | ₹158,500 / 10 gm | ₹165,000 / 10 gm |
| Silver | International | $80 / oz | $95 / oz |
| Silver | Domestic | ₹260,000 / kg | ₹285,000 / kg |
Source: AUGMONT BULLION REPORT
International News
Precious Metals Find Support On Ceasefire Optimism AUGMONT BULLION REPORT
Gold Is Trading At Y Oversold Levels Near The Critical Support Zone Of $4,300, Silver Testing Key Support In The $66–$67 Range
- Price Movement – Gold and silver are consolidating near key support levels as markets digest a fragile Israel-Iran ceasefire alongside mounting concerns over inflation and the prospect of further interest rate hikes.
- Geopolitical Developments – President Trump confirmed that both parties are pursuing an immediate ceasefire, with final negotiations advancing. Israel and Iran announced a mutual halt to hostilities following a direct appeal from Washington. However, Tehran cautioned that it reserves the right to resume strikes if Israeli operations against Hezbollah in Lebanon continue.
- Macro-economic Signals – CME FedWatch data shows markets now pricing a greater than 70% probability of a Fed rate hike by December. Investors are closely watching May’s U.S. CPI and PPI releases, due Wednesday, for clearer signals on the Fed’s policy trajectory. The European Central Bank is also widely expected to deliver a rate increase this week.
Technical Triggers
- Gold is currently trading at deeply oversold levels near the critical support zone of $4,300 (approximately Rs. 1,54,000). A technical rebound of 3–4% is anticipated from current levels, driven by bottom-fishing activity. However, a sustained break below this support would shift the near-term bias decisively lower, exposing the $4,000–$4,100 range (approximately Rs. 1,50,000–Rs. 1,51,500) as the next downside target.
- Silver is similarly oversold, testing key support in the $66–$67 range (approximately Rs. 2,40,000–Rs. 2,42,000). As with gold, a 3–4% technical recovery is the base case on dip-buying, but a confirmed sustainability below this support would accelerate selling pressure toward $60 (approximately Rs. 2,20,000) in the short term.
Support and Resistance
| International Gold Support Level International Gold Resistance Level Domestic Gold Support Level Domestic Gold Resistance Level | : $4300/oz : $4500/oz : Rs 154,000/10 gm : Rs 160,000/10 gm |
| International Silver Support Level International Silver Resistance Level Domestic Silver Support Level Domestic Silver Resistance Level | : $66/oz : $75/oz : Rs 240,000/kg : Rs 260,000/kg |
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