Gold trend show that it is eyeing on ongoing developing geo-political scenario especially keeps an eye on Russia-Ukraine peace talks! As concerns about a possible global trade war fueled demand for safe-haven assets, uncertainty about U.S. President Donald Trump’s tariff proposals continued to drive gold’s strength today.
In terms of geopolitics, a group of European leaders decided during a conference in Paris on Monday, 17th February that they were prepared to provide Ukraine with security assurances, but that it would be risky to reach a truce without also reaching a peace deal is learning at the Augmont Bullion.
To discuss the ongoing conflict between Russia and Ukraine and to strengthen bilateral ties, top Russian and American officials, including foreign ministers, will gather in Saudi Arabia today. Three years after Ukraine’s invasion, the conference is expected to be significant because of the US’s role in promoting peace.
Gold April Futures have rebounded above $2925 (~Rs 85500) again, taking support around $2985 (~Rs 84600) in the last two days. Next Resistance is $2945 (~Rs 85900) and $2965 (~Rs 86300) to maintain its upward momentum of $3000 (~Rs 87500) in a few days.
Silver March Futures is facing the resistance of $33 (~Rs 96000), prices need to sustain above this level to trend higher towards the target of $35 (~Rs 101,000). Now, Augmont Bullion suggest, International Gold Support level at $2885/oz & International Gold Resistance level is $2965/oz. Looking at the Indian market perspective,
Indian Gold Support level at, Rs 84600/ 10 gm; Indian Gold Resistance level at Rs 86300/ 10 gm.
Whereas International Silver Support level looks of $32/oz & International Silver Resistance level of $35/5oz
Indian Silver Support level looks of Rs 94000/ kg & Indian Silver Resistance level is at, Rs 101,000/ kg.
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