“Trump has been raising market hopes for some sort of deal with Iran, which could lead to the reopening of the Strait of Hormuz. That prospect has weighed on oil prices and, by extension, given gold a welcome lift from an inflation perspective,” said Tim Waterer, chief market analyst at KCM Trade.
Internationally, at $4,500 and $4,467, while resistance is at $4,555 and $4,600 per troy ounce, and silver has support at $74.20 and $72, while resistance is at $78.80 and $80.40 per troy ounce.
MCX gold has support at Rs. 1,57,700 and Rs. 1,56,650, and resistance is at Rs. 1,59,850 and Rs. 1,61,100, while silver has support at Rs. 2,70,000 and Rs. 2,65,500 and resistance at Rs. 2,76,000 and Rs. 2,81,000.
