• The dollar’s decline and the uncertainty surrounding the backlog of official data following the US government’s 43-day reopening have helped gold prices rise 4.8% so far this week.
  • Some of these releases might be lost completely, but others might show up soon, which would raise concerns about the nation’s economic future.
  • The U.S. government has opened, though, and as a result of all these concerns about inflation and the slowdown, there was some decline in silver prices as expectations changed to suggest that the Fed might not be ready to cut rates aggressively.
  • Markets have lowered their estimates for a December Fed rate cut, giving a 25 basis point cut a 50% chance, down from over 95% a month ago. Meanwhile, betting on cuts in 2026 has not altered.

Technical Triggers  

  • Gold continues its upside, crossing $4200, with the next target resistance at $4300 (~Rs 130,000), with support at $4100 (~Rs 123,500)
  • Silver has touched record high prices, crossing $54 (~Rs 164,000). Now the next target resistance lies at $55(~Rs 168,500) and $56 (~Rs 172,000) and support at $52 (~Rs 160,500)

Dr.Renisha Chainani, Head- Research, Augmont