• Safe-haven demand – Precious Metals prices rose as investors sought safety amid renewed uncertainty over U.S. trade policy. The U.S. Supreme Court struck down several tariffs imposed by President Donald Trump, ruling he exceeded his authority. In response, Trump pledged to increase import duties to 15%, escalating trade tensions.
  • Geopolitical Tensions – The U.S. and Iran are scheduled to hold third round of talks in Geneva this week. While the dialogue suggests diplomatic engagement, lingering uncertainty over Iran’s nuclear programme continues to embed a risk premium in markets, supporting bullion.
  • Economic Data – U.S. inflation rose more than expected in December, with indications of further acceleration in January. Persistent inflation could delay Federal Reserve rate cuts, which may cap gold’s upside. However, weaker-than-expected Q4 GDP growth at 1.4% signals economic slowing, which could ultimately reinforce expectations of monetary easing and provide underlying support to gold and silver

Technical Triggers   

  • As indicated in the previous report, gold has achieved the target of $5200 (~ ₹1,61,000). This technical breakout indicates renewed bullish momentum, with prices now likely targeting the next resistance zones at $5,300 (~ ₹1,64,000) and $5,400 (~ ₹1,67,000).
  • As indicated in the previous report, silver has achieved the target of $85 (~ ₹2,60,000). Prices are now gradually approaching the next resistance level of $90 (~Rs 269,000) and $92 (~ ₹2,75,000).

Dr.Renisha Chainani, Head- Research, Augmont