Praveen Singh

Dips towards the key support at $84 are likely to be well supported as geopolitical concerns continue to linger, said Praveen Singh, head currencies and commodities at Mirae Asset

In the current scenario, gold may continue to range trade with traders seeking more geopolitical clues before committing themselves, said Praveen Singh, head currencies and commodities at Mirae Asset

China, being on holiday until February 23, has weakened the buying support in silver. However, geopolitical concerns continue to support.

Gold outlook: Spot gold continues to trade in its short-term range of $4,700-$5,100; however, moves have become quite volatile and choppy

Spot gold slumped to $5,104 before finding a bid. US equities slumping on tech spending and RoI concerns also weighed on the precious metals

Spot silver is expected to test psychological resistance at $100 amid lingering geopolitical uncertainty and worries. Risk will come from easing geopolitical concerns

Spot gold will continue to draw support from safe-haven buying amid elevated geopolitical tensions as Greenland uncertainty continues

Roughly $6 billion of silver futures are set to be sold amid index rebalancing. Mirae Asset Sharekhan analyst suggests if Silver prices hold the support of $70, investors may consider buying the dip.

Gold price outlook: Huge volatility and choppiness are expected to continue in gold as traders navigate the maze of data and events in the very short term

Silver needs to hold above $70 to make a fresh attempt at a new high. An increase in margins is serving as a bearish catalyst for the metal

Barring geopolitical shocks, spot gold may trade with a slightly bearish tilt ahead of the US ISM data and Index rebalancing.

The stunning silver rally continues unabated as the grey metal keeps on surging to fresh record highs on a confluence of bullish factors including ETF inflows

Buoyed by a dovish FOMC outcome, spot gold surged on December 11 extending its gains to the second day. At the time of writing this article, spot gold was trading with a gain of 1.3 per cent at $4282

The white metal, at the time of writing this article, was changing hands at $57.14, down 2.3 per cent for the day as investors book profit after a stunning 8-day rally

The yellow metal, at the time of writing this article, was trading at $4,213, up nearly 0.2 per cent for the day, even as the US yields firmed up

Gold will react mainly to the shifting odds of a December rate cut, which means that the September NFP report may further weigh on the yellow metal, analyst said

Silver price outlook: The grey metal is expected to be highly volatile as risk assets fall, said Mirae Asset analyst. Dip buying is preferred over chasing the rally, he said

Downside is expected to be limited on concerns about the US job market and expectations of Fed rate cut in December

Silver holding well despite elevated yields and a firmer US Dollar is a positive sign. However, easing the silver lease rate has taken out the bullish sting to some extent

Central banks continuing to buy gold at a brisk pace despite elevated gold prices underscores the importance of holding metal in the present, uncertain political, economic, and geopolitical times