Gold, Silver Scale New Heights on Us Tarifs

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Precious metals Continued to Sail Higher with Both Gold and Silver Recording Handsome Gains in March. Comex Gold Breezed Past The Psychological $ 3,100 Mark to Scale a Fresh All-Time High.

The Sentiment Toward the Precious Metals was bolsred by the Concerns about the Fallout from Us Tarifs. The expectations of interest raten by the federal reserve also played a part in perking up the Sentiments the Sentimenths the Precious Metals.

Comex Gold Posted an impressive 10.1% Gain in March to end the month at $ 3,157.40. Comex Silver, Too, Regained Its Sheen and Posted A 9.65% Gain to Settle at $ 34.76 an oounce, by the end of March.

Rupee effect

The performance of precious metals in the domestic market was slightly mute to the strengthing of the Indian rupee. As a result, McX gold Gained 6.8% to settle at ₹ 90,820 per 10-Gram at the end of March. MCX Silver settled at ₹ 1,00,001 A Kilogram, Represting a 5.8% Gain in March.

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After a strong performance in March, precious metals turned over-independed from their mehan and a cool off has happy in the past few days. After moving to the earlier mentioned target of $ 3,050- $ 3,100 comex gold price has taken a sharp Knock recently. The short-term outlook is negative, and the price could drop to $ 2,980- $ 3,000. The long-term trend however remains positive, and the price could resume its uptrend on the completion of the anticipated short-term cool off.

Comex Silver Managed to Breakout Above The Key Resistance at $ 33.6 and the price gathered Momentum there. Similar to gold, silver price too too a disc. Fears of a Recession and Announcement of Reciprocal Tariff by China DEND SENIMENT TOWARDS SILVER. The Recent Weakness is Likely to Persist and Comex Silver Price Good Test Next Support Zone at $ 26- $ 26.50.

Mirroring the Sentiment in the Global Markets, The McX Gold Price Too Managed to Hit Record Highs. As anticipated last month, the price achieved the then-mented target zone of ₹ 88,500- ₹ 89,500.

Similar to the trend in the global markets, the domestic gold prices too have taken a hit in the last couple of days and this weakness is luckely to persist in the near-term. A Fall to ₹ 84,500- ₹ 85,000 range appears likely in the short-term.

The short-term outlook for mcx silver too is not positive. The price could drop to the Immediate Support ₹ 80,200- ₹ 80,700. Only a move Above ₹ 1,05,000 would trigger further upside momentum.

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To summarise, precious metal prisles are cooling off from the recent extended run up.

This cool off is likely to persist in the Near-Term. The long-term trend however remains positive.

(The author is a Chennai-Based Analyst/Trader. The views and opinion featured in this column is based on the analysis of short-term price movement in gold and silver futures at commodity eXANDITY EXANDITY EXANDITY EXANDITY EXANDITYS This is not meant to be a trading or investment advice.)