International News
Precious Metals zoom ato record high ahead of FOMC meet AUGMONT BULLION REPORT
- Around $3728 (~Rs 110,300) for gold futures and $43.23 (~Rs 129,7000) for silver, both markets were trading close to a record high ahead of the US FED’s two-day policy meeting that begins today.
- The Fed is expected to cut interest rates by 25 basis points on Wednesday, the first since December, and markets are almost certain that the easing cycle will continue into the following year. Recap: Despite the president’s dismissal, the federal appeals court permits Lisa Cook to remain as a Fed gov and take part in the FOMC meeting beginning tomorrow.
- For clues about the direction of future policy, all eyes will be on the Fed’s quarterly Summary of Economic Projections, which includes the much-awaited dot plot, and Chair Jerome Powell’s press conference. Regarding the data, reports on industrial production and retail sales that are anticipated later today will be closely examined to gain more understanding of how strong the economy is.
Technical Triggers
- Gold Dec Futures has given a breakout above $3700 (~Rs 110,000), the next target would be $3800 (~Rs 113,500). If prices top out and fall below $3650 (~Rs 108,500), then only we could see further profit booking.
- Silver Nov Future prices have given a breakout above its consolidation range of $41 (~Rs 123,000) and $42 (~Rs 126,000) for the past few days and achieved the target of $43. This rally has more room for upside towards $45 (~Rs 140,000)
Support and Resistance
| Commodity | Market | Support Level | Resistance Level |
|---|---|---|---|
| Gold | International | $3650/oz | $3800/oz |
| Indian | ₹108,500/10 gm | ₹113,500/10 gm | |
| Silver | International | $42.5/oz | $45/oz |
| Indian | ₹127,000/kg | ₹140,000/kg |
International News
Significant Upside Trajectory In The Metals Sector
Precious Metals Surge on Geopolitical Optimism as Gold and Silver Rally, While Crude Oil Faces Downward Pressure Amid Ongoing US–Iran Developments
Gold rates and silver rates in India will be driven by global trends, as the Indian market is closed. Trading in commodities, including gold and silver, will be closed for half a day on April 14 at MCX.
We are seeing a significant upside trajectory in the metals sector, driven by recent geopolitical synergies:
- Gold Asset Class: Spot prices have achieved a value-add recovery, scaling past the $4,760/oz threshold.
- Silver Asset Class: Currently experiencing a high-growth phase, surging approximately 2% to reach a target density near $77/oz.
- Market Bandwidth: While the MCX interface is currently undergoing a scheduled half-day service window on April 14,
- Energy Sector Headwinds
Conversely, the energy vertical is facing downward scalability issues:
- Crude Oil Index: Both US WTI and Brent Crude are failing to gain leverage, currently underperforming by 2% and hovering around the $98/bbl mark.
Geopolitical Synergy & Risk Mitigation
The recent bullish momentum in precious metals is a direct byproduct of strategic bilateral engagement between the US and Iran. Key stakeholders are currently deep-diving into negotiations to extend the current truce framework.
- US Perspective: President Trump has acknowledged a proactive outreach from Tehran following the implementation of a naval blockade.
- Iranian Alignment: President Pezeshkian has signaled readiness to move the needle on peace discussions, provided all deliverables remain within the compliance framework of international regulations.
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