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Praveen Singh is associate vice president of fundamental currencies and commodities at Sharekhan by BNP Paribas.
Praveen Singh is associate vice president of fundamental currencies and commodities at Sharekhan by BNP Paribas.
Gold price outlook: Gold is caught between safe haven demand support and selling coming on a firmer US Dollar
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