Gold prices soared to a record high of $2,850 (~₹82,000) as the US dollar weakened following a report indicating slower-than-expected GDP growth in the fourth quarter. The US economy expanded by 2.3%, falling short of the anticipated 2.5% growth and significantly lower than the 3.1% recorded in the previous quarter.
According to the Augmont Bullion Daily Report, gold is experiencing strong safe-haven demand, fueled by concerns over economic uncertainty and geopolitical tensions. US tariff threats and inflation concerns continue to influence gold prices, with expectations of a Federal Reserve policy shift further supporting the metal’s bullish outlook.
Technical Triggers
Gold prices have already reached the $2,800 (~₹81,000) target, and analysts suggest profit booking before further price hikes. Silver prices, meanwhile, have sustained levels above $31 (~₹93,000), building momentum toward $32 (~₹96,000).
Support and Resistance Levels
Gold:
- International Support: $2,790/oz
- International Resistance: $2,900/oz
- Indian Support: ₹81,000 per 10 gm
- Indian Resistance: ₹83,000 per 10 gm
Silver:
- International Support: $29.5/oz
- International Resistance: $32/oz
- Indian Support: ₹92,500 per kg
- Indian Resistance: ₹96,000 per kg
With economic uncertainty and inflation fears persisting, gold and silver are expected to remain key investment assets, with the potential for further upside in the near term.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Investors are advised to conduct their own research or consult a financial advisor before making investment decisions.
