Praveen Singh

Mirae Asset expects gold to find good support in the dips. After a brief consolidation, it is expected to test resistance at $4,500. Support is at $4,300/$4,200-$4,220.

Silver price outlook: Praveen Singh of Mirae Asset ShareKhan said that spot silver is expected to consolidate its gains after rising a whopping 12 per cent last week.

Dovish FOMC outcome is supportive of higher gold prices in very short term, though oil prices can cut the rally short.

In the very short-term, silver can test the resistance around $61, with interim resistance at $59.45. Support is seen at $576.75/$54, while resistance is at $61.

Praveen Singh, Head of Commodities at Mirae Asset Sharekhan, said oil prices fuelled inflation concerns and increased expectations of higher interest rates.

Praveen Singh, Head of Commodities at Mirae Asset Sharekhan, said elevated expectations of a Fed rate hike are bearish for the metal, but the downside is expected to remain limited

Hawkish Fed commentary and escalation in the US-Iran conflict will keep silver under pressure in the short term. The white metal is quite oversold but can extend its decline to test key support at $54

The US Fed chief Warsh's hawkish stance and rate hike worries due to Middle East tensions would keep Gold prices under pressure.

Silver is expected to be highly volatile and choppy in the short run due to the evolving situation in West Asia. However, as West Asia conflict is likely to remain contained, traders may buy the dips.

Gold prices are expected to remain volatile and choppy amid uncertainty over situation in the Middle East, may trade in the range of $4,000-$4,200 for now.

Gold is expected to trade with a positive bias in near-term, and can extend its advance to $4,200 level in the coming weeks. Upside will remain capped unless the rate hike probability comes down furth

Silver prices rebounded on Warsh's remarks in the ECB panel discussion on July 1, and a weaker-than-expected nonfarm US payroll report for June.

Gold price outlook: In the near term, gold can slide further. A test of support around $4000 is possible, while an extended decline to $3800 cannot be ruled out.

Silver was trading at $66, down 7.78 per cent from June 17 high of $71.57.

According to Praveen Singh, head of commodities at Mirae Asset Sharekhan, silver is expected to continue to remain under pressure unless a US-Iran deal is formally announced

A firmer dollar, rate hikes by central banks, ETF outflows, and elevated yields are likely to keep the yellow metal under pressure. China's demand is not too strong either

In near-term, the metal is expected to be under pressure unless oil prices come down on sustainable basis

Gold ETF flows remain uninspiring, as investors continue to be deterred by elevated volatility and the prospect of higher interest rates

Gold's trajectory continues to depend on oil prices as traders remain fixated on rate moves. High oil prices are supporting the US Dollar and increasing the probability of rate hikes

In the present scenario, upside in silver is expected to remain capped barring clear and material developments aiding constructive US-Iran negotiations