BUY GOLD APR @ 158600 SL 157500 TGT 160000-161000. MCX - Kedia Advisory
Gold
BUY GOLD APR @ 158600 SL 157500 TGT 160000-161000. MCX
Observations
Gold trading range for the day is 157260-162080.
Gold prices dropped as investors awaited further details on U.S.-Iran talks.
Gold to be supported via stronger inflation-hedging demand and a higher stock-bond correlation – WGC
Financial speculation is evident and could lead to greater safe-haven demand, notably gold – WGC
BofA sees pathway for gold to hit $6,000/oz over next 12 months
Silver
BUY SILVER MAR @ 257000 SL 254000 TGT 261000-264000. MCX
Observations
Silver trading range for the day is 248915-272175.
Silver dropped amid signs that US interest rates could remain on hold for some time.
US Trade Representative Greer suggested that tariff rates for certain countries could rise to 15% or higher from the recently imposed 10%.
The Federal Reserve is widely expected to keep interest rates steady next month amid concerns about rising inflationary pressures.
China implements strict silver export licensing rules tightening 60% of global refined supply
