12 July
Today’s gold and silver news
On Monday, Spot Gold experienced minimal fluctuations as investors eagerly anticipated the release of U.S. inflation data, which has the potential to impact the Federal Reserve’s policy stance.
This week, the primary focus will be on the U.S. Consumer Price Index (CPI) data, scheduled for release on Wednesday. The recent minutes from the Federal Reserve meeting indicated that a significant majority of policymakers anticipate the need for further tightening of policies.
From a technical standpoint, the market’s movement has been confined to a range, with 1895 and 1940 serving as crucial levels to watch. Notably, the market faces strong resistance at 1929, 1933, and 1940, while support can be found at 1908 and 1895.
Considering these factors, it may be opportune to initiate buying in physical stocks at lower levels throughout the day.
– Nitin Kedia
