New Delhi, 20 June (IANS). Market analysts said on Friday that the US Federal Reserve recorded a decline in gold prices after the US Federal Reserve indicated a more gradual route to keep the interest rates unchanged and cut rates.
American Fed president Jerome Powell said that the central bank is expected to increase inflation in the coming months between tariffs and other factors, which strengthens a vigilant policy stance. While the markets initially responded optimistic, Powell reiterated the expectations that the fed is in good position to wait for data before taking any steps, with low and stable unemployment.
However, he indicated that there could be a live meeting in September. The Fed is still estimated to deduct a total of 50 basis points in 2025, but is now expected to cut only 25 basis points in 2026 and 2027.
Manav Modi, senior analyst at Commodity Research at Motilal Oswal Financial Services Limited, said, “Powell stressed that these prognosis is especially dependent on inflation trends. Vladimir Putin has expressed readiness for concrete peace talks with Ukraine. ”
Israel and Iran have still not had any solution and there is a war -like situation, although the expectations of relaxation of prices are overshadowing prices.
He added, “Weekly unemployment claims in the US were also reported to be less than expectations, causing prices to shock. Volatility could decrease as the public holidays are closed by American markets.”
According to the Commodities Vice President Vice President of Mehta Equality Limited, Rahul Kalantar, the prices of gold and silver have fallen from a recent high level to a week -low -level and are moving towards the first weekly decline in three weeks.
The artist said, “Silver prices fell below $ 35.70 an ounce after a sharp surge in this week. This decline came when investors finished their posts in bullion to cover the deficit in other places amid growing geopolitical stress between Israel and Iran.”
He added, “On Thursday, the Bank of England also kept the rates stable in its monetary policy meetings, which limited the growth of precious metals. However, the Israeli-Iran war growth and weak dollar index is promoting safe purchases of precious metals. Weakness in rupee is also supporting gold and silver prices in domestic markets.”
Gold is getting support at $ 3340-3315, while resistance is at $ 3380-3400. Silver is getting support at $ 35.75-35.50, while resistance is at $ 36.35-36.55.
He said, “In terms of Indian rupee, gold is getting support at Rs 98,750-98,550, while resistance is at Rs 99,550-99,740. Silver is getting support at Rs 106,380-105,500, while resistance is at Rs 1,08,350-1,09,000.”
-IANS
SKT/
