Gold looks to get support at 152000 and resistance at 163000-Kedia Advisory
Gold
Gold looks to get support at 152000 and resistance at 163000
Observations
Gold trading range for the day is 154065-161025.
Gold prices rose supported by a weaker dollar, as a slate of U.S. economic reports scheduled.
Fed’s Daly said she thinks the U.S. labor market is in a "precarious" position, and that further interest-rate cuts may be needed.
Markets are keeping an eye on US-Iran talks, with both sides agreeing to continue discussions this week to ease tensions
China's central bank extended its gold buying spree for a 15th month in January
Silver
Silver looks to get support at 236000 and resistance at 290000
Observations
Silver trading range for the day is 245615-274475.
Silver gains as the dollar weakened, while investors awaited a key U.S. labour market report.
Fed’s Bessent said he would not expect the Federal Reserve to move quickly to shrink its balance sheet.
Fed’s Daly said she thinks one or two more interest rate cuts may be needed to counteract weakness in the labour market.
Investors expect at least two 25-basis-point rate cuts in 2026, with the first one expected in June.
