Gold looks to get support at 160000 and resistance at 172000 - Kedia Advisory
Gold
Gold looks to get support at 160000 and resistance at 172000
Observations
Gold trading range for the day is 157505-170705.
Gold climbed as a weaker U.S. dollar and geopolitical uncertainty boosted demand for the safe-haven metal.
The Fed left the federal funds rate unchanged at the 3.5%–3.75% target range, after three consecutive rate cuts last year.
Trump said that he is not concerned about the dollar’s recent drop as it sinks to its lowest level in four years
Deutsche Bank said that gold prices could reach $6,000 per ounce in 2026 if the U.S. dollar remains weak.
Silver
Silver looks to get support at 350000 and resistance at 425000
Observations
Silver trading range for the day is 356245-402515.
Silver rose as investors flocked to safe-haven metals following a sharp dollar decline.
Policy uncertainties, including Trump’s tariff threats and attacks on Fed’s independence, further underpinned the rally.
Citi raises silver 0 – 3 month price forecast to $150/oz
CME raised initial margin on its COMEX 5000 Silver Futures (0#SI) by 11%
