Uptrend in precious metals may continue today

Apr 13, 2022 1 min read

US CPI data remains in line with expectations

Mr. Nirpendra Yadav, Senior Research Analyst, Swastika Investmart, shares his opinion on the commodity markets, commodities stocks, and prices of Gold and Silver in moneycontrol publications. According to Mr. Nirpendra Yadav, Senior Commodity Research Analyst at Swastika Investmart, "Gold and silver prices gained yesterday as US bond yield retreated from 3 year high after the release of US inflation data (CPI). US CPI data remains in line with expectations while Core CPI data remains less than forecasted earlier. Precious metals participants assume that US Fed will not be as hawkish as it is after observing the inflation data for March month. The uptrend in precious metals may continue today. Gold has resistance at Rs 53000 and above this level prices may move towards Rs 53500-53800 levels,"