Silver looks to get support at 305000 and resistance at 345000 - Kedia Advisory
Gold
Gold looks to get support at 145000 and resistance at 154000
Observations
Gold trading range for the day is 142520-156520.
Gold prices rose setting a new record high as renewed US-EU trade tensions strengthened demand for safe-haven assets.
Geopolitical tensions have been at the forefront of the rally, with expectations of monetary policy easing also playing a significant role.
Investors are eyeing the delayed US PCE inflation report due later this week, which could provide more clues on Fed’s rate path.
Investors also await a decision on a U.S. Supreme Court case concerning Trump's attempts to fire Fed Governor Lisa Cook.
Silver
Silver looks to get support at 305000 and resistance at 345000
Observations
Silver trading range for the day is 297890-340890.
Silver rose supported by its critical mineral designation in the U.S., and a structural market deficit.
Support also seen as escalating US-Europe tensions over President Trump’s threats to acquire Greenland lifted safe-haven demand.
Trump threatened eight European countries that oppose his plan with new tariffs, while European leaders weighed options for possible retaliation.
Structural supply deficits also made silver a critical asset, with the London market experiencing squeezes over the past year.
