• Gold and Silver continue their uptrend, setting new all-time highs as investors anticipate two interest rate cuts in early 2026.
• Fed Governor Christopher Waller, a strong candidate for the Fed chairman, expressed support, saying US borrowing costs should be reduced by up to one percentage point. Waller cautioned that job growth has fallen to near-zero levels and advocated for gradual rate decreases next year to assist boost employment.
• Meanwhile, geopolitical tensions are rising, as theUS moved to halt all sanctioned Venezuelan oil shipments following last week’stanker seizure and military deployment, while in Ukraine, Russian President Vladimir Putin reiterated his firm stance on territorial demands, even as Washington intensified efforts to broker a diplomatic resolution.
• The market is now focused on the delayed CPI report, BOE rate decision, and ECB rate decision, all of which are due later today.

Technical Triggers        

• As suggested, Gold has touched the resistance of $4380 (~Rs 135,000), rising from support $4300 (~Rs 133,000) this week. Now prices are expected to consolidate in this same range. Either side breakout or breakdown will infuse a 2-3% rally.

• As suggested, Silver has touched the resistance of $67 (~Rs 208,000). Prices are expected to consolidate at these levels. The uptrend is expected to continue if prices are trading above $62 (~Rs 194,000) support. Next target resistance is $70 (~Rs 218,000) and $72 (~Rs 224,000).

Support and Resistance