• Gold and Silver continued to rise, reaching a close to three-week high, supported by indications that the U.S. government shutdown was coming to an end and rising anticipation of another December interest rate cut by the U.S. Federal Reserve.
  • Late on Monday, the U.S. Senate ended the longest shutdown with a compromise that would return federal funds to the United States. It would include three full-year appropriations measures and would finance the government until January 30 if the Senate passes the bill. It would then need to be approved by the House of Representatives and sent to President Donald Trump, a process that might take several days.
  • Amid concerns about the economic consequences of the longest-ever U.S. government shutdown, consumer sentiment in the United States declined to a 3-1/2-year low in early November.

Technical Triggers

  • Gold prices have achieved the target of $4150 (~Rs 125,000). Prices are expected to consolidate here for a while, before moving higher.
  • Silver prices have achieved the target of $50.80 (~Rs 155,000). Prices are expected to consolidate here for a while, before moving higher.

Dr.Renisha Chainani, Head- Research, Augmont