• Gold and silver prices saw profit-booking as geopolitical tensions briefly eased after U.S. President Donald Trump withdrew his threat of new tariffs on European nations and signalled a softer stance on Greenland, saying a “framework of a future deal” had been agreed. His assurance that force would not be used, weighed on bullion prices and reduced immediate safe-haven demand.
  • However, Trump’s continued rhetoric—warning NATO allies that opposition to his Greenland plans would be “remembered”—has kept underlying uncertainty alive. His earlier brinkmanship had triggered a diplomatic standoff with Europe and unsettled global markets, reinforcing gold’s safe-haven appeal.
  • While near-term profit-taking has capped prices, persistent geopolitical risk and policy unpredictability continue to support the broader bull trend in precious metals.

Technical Triggers   

  • Gold and silver prices have seen some retracement, but the broader trend remains positive. For gold, the previous resistance near $4,750 (~ ₹1,49,000) has now turned into a strong support zone. As long as prices hold above this level, the upside target of $5,000 (~ ₹1,60,000) remains intact.
  • In silver, prices have also corrected, but the $90.5 level (~ ₹3,00,000) continues to act as a strong support. As long as silver trades above this zone, the metal retains the potential to move higher towards the $99–100 range (~ ₹3,50,000). Overall, dips are likely to attract buying interest rather than signal a trend reversal.

Dr.Renisha Chainani, Head- Research, Augmont