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Praveen Singh is an associate vice president of fundamental currencies and commodities at Sharekhan by BNP Paribas.
Praveen Singh is an associate vice president of fundamental currencies and commodities at Sharekhan by BNP Paribas.
Spot gold hit a new record high of $3,707 on September 17 as the US Federal Reserve cut the Fed Fund overnight rate by 25 bps to 4-4.25 per cent range and signalled two more rate cuts by the end of th
Praveen Singh, head of currencies and commodities at Mirae Asset Sharekhan, sees a weakening US labour market as a potential source of concern for the metal
Gold outlook: The yellow metal is likely to rise to $3800 (Rs 115,000) in the coming months, with support at $3600, according to Praveen Singh
Silver outlook continues to remain constructive on rate cut expectations, huge ETF inflows, elevated geopolitical and economic risks. Strength in gold bodes well for silver.
Gold outlook: As the Fed Chair Powell's focus has shifted from inflation to the weakening US job market, the US monthly job report will be critical for gold for short-term trading.
Strong ongoing rally in Chinese equities is mostly positive for the grey metal. CSI33 Index has rallied over 27 per cent from its April low.
Gold outlook: Spot gold continues to find robust support from a confluence of macroeconomic factors, chief among them being the rapidly deteriorating fiscal landscape in major economies.
Praveen Singh, head of currencies and commodities at Mirae Asset Sharekhan, recommends buying on dips rather than chasing the rally. He also advises closely monitoring the geopolitical situation
Praveen Singh, head of currencies and commodities at Mirae Asset Sharekhan, has shared his outlook for the yellow metal
In ultra short-term, spot silver is likely to be under pressure on reduced safe haven demand and a firmer US Dollar
Gold is under pressure from geopolitical factors as traders expect that the US-driven peace efforts may lead to a breakthrough in the Ukraine war talks
Silver trading strategy: Healthy risk appetite on US-China trade truce extension and surging risk assets would continue to support the metal into the dips.
Gold trading strategy: In the near-term, safe haven demand is somewhat subdued due to US-China trade truce extension and hopes from the upcoming US-Russia meeting in Alaska.
Gold faces a strong resistance at $3420 (₹102,300 at INR/USD rate of ₹87.43) as posed by the 4-month-old trendline.
Silver rally is primarily being driven by risk sentiments as expectations of rate cuts buoy the risk assets. Another supporting factor is healthy ETF inflows.
President Trump said that US tariffs on semiconductor and pharmaceutical imports would be announced within the next week or so. Tariffs of pharmaceuticals could be as high as 250 per cent.
Gold/Silver ratio at 89.96 has recovered nearly 5 per cent after it reached a seven-month low at 85.88 on July 14.
Considering the US GDP data, weekly job report, hot PCE report and calm in the wider markets despite tariffs, gold is susceptible to further decline in the near-term, says Praveen Singh of Mirae Asset
Silver is well-supported by strong ETF inflows, but a firm dollar and trade news flow pose a risk to the metal prices, analyst says
Gold price outlook: The yellow metal price is likely to be influenced primarily by the US Dollar Index and tariff news flow