- While we wait to see what happens next in the Israel-Iran confrontation, gold has slightly recovered. If the United States choose to intervene directly in the battle, the geopolitical tensions may increase.
- The U.S. Military has evacuated some ships and aircraft from Middle Eastern locations that could be attacked by Iran.
- Interest rates were kept unchanged by the Fed on Wednesday. The rate cut pace was slowed, but Fed policymakers still expect to cut rates by half a percentage point this year.
- But as greater import tariffs loom, Fed Chair Jerome Powell warned against placing too much emphasis on this prediction, pointing to “meaningful” inflation in the future.
Technical Triggers
- Gold prices are consolidating around record-high levels in the range of $3360(~Rs 99000) and $3475 (~Rs 101,000).
- Silver has crossed the $37 (~Rs 109,000) resistance. The next target is $38 (~Rs 112,000) if this positive momentum continues.
Dr. Renisha Chainani, Head – Research at Augmont
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