Technical Triggers       

  • As suggested yesterday, Gold sustained above its resistance zone of $3440-50 (~Rs 101,300-500) and follow-through buying took prices towards the next target level of $3500 (~Rs 102,200).
  • Targets also achieved in Silver as prices touched its resistance level of $38.5(~Rs 115,000), taking clues from gold.
  • As Gold and Silver prices have touched resistance, prices are expected to consolidate in a range today with some profit booking due to the weekend.

Dr.Renisha Chainani, Head- Research, Augmont