Silver looks to get support at 238000 and resistance at 285000. - Kedia Advisory
Gold
Gold looks to get support at 146000 and resistance at 158000
Observations
Gold trading range for the day is 143690-160860.
Gold rose amid an absence of key economic data this week due to a partial U.S. government shutdown.
The U.S. Bureau of Labor Statistics said the closely watched employment report for January will not be released this Friday.
The government partially shut down after Congress failed to approve a deal to keep the Labor Department, among other operations, funded.
UBS increased its gold price target to $6,200 per ounce for March, June and September 2026, compared with a prior forecast of $5,000.
Silver
Silver looks to get support at 238000 and resistance at 285000.
Observations
Silver trading range for the day is 231620-296200.
Silver gained on short covering after a sharp two-day selloff as investors digest Warsh's nomination as the next Fed chair.
Governor Christopher Waller pointed out that the labor market remains weak despite steady economic growth Record $1 billion flows into silver
ETFS by retail investors in January Retail speculation, particularly in Asia, which saw $1bn flow into silver ETFs in January
