All Target 🎯 Done! Gold Silver Bole Boom Boom
Rona Mana Hai Trade With Neal Bhai
Gold Hit 29030 Silver Hit 38010 Ultimate Target By Neal Bhai
February 9, 2016 2:10 PM Written this:
Gold MCX 28414 to 29030, Silver MCX 37244 to 38010
Gold (XAU/USD) edges lower on Tuesday as traders lock in some profits following Monday’s surge to six-week highs. At the time of writing, XAU/USD is trading near $4,190, down over 1% on the day.
A modest uptick in the US Dollar (USD) and firmer Treasury yields are also weighing on the precious metal. At the same time, a cautious risk backdrop, with major global stock indices stabilizing after Monday’s sell-off, is tempering safe-haven demand and contributing to the pullback.
Despite the mild retreat, downside remains limited as Gold stays broadly supported by expectations that the Federal Reserve (Fed) will lower interest rates at its upcoming monetary policy meeting next week.
With no major US economic releases due on Tuesday, Gold’s intraday moves may remain subdued, leaving price action largely driven by USD dynamics and shifts in the broader risk environment.
- Rupee Falls Below 90/USD: What This Big Slide Means for India Now
- Copper Prices Jump to Four-Month High as Supply Gets Tight — Prices Set for More Upside
- Wockhardt Share Jumps 19% on Heavy Buying — Why the Pharma Stock is Rising Today
- Spot Silver Above $56.10: Big Target $60–$62; MCX Silver Hits Fresh 52-Week High
- MCX Copper Price Forecast: Buy or Sell? Neal Bhai Explains the Next Big Move
Market movers: Softer US data and rising Fed cut bets shape Gold’s outlook
- The US Dollar Index (DXY), which measures the Greenback’s value against a basket of six major currencies, holds firm after slipping to its lowest level in over two weeks on Monday. At the time of writing, the index is trading around 99.45, pausing a five-day losing streak.
- Geopolitical risk also remains in focus as Russia–Ukraine peace discussions continue under US mediation. US negotiator Steve Witkoff is expected to meet President Vladimir Putin later on Tuesday, though sentiment stays fragile after Putin warned that European demands are “not acceptable” to Moscow and signaled plans to increase strikes on Ukrainian facilities and vessels. He also accused Europe of hindering US and Trump-led peace efforts.
- US economic data released on Monday painted a softer picture for the manufacturing sector. The ISM Manufacturing Purchasing Managers Index (PMI) slipped to 48.2 in November from 48.7, missing the 48.6 forecast and marking a ninth straight month in contraction. The details were also somewhat lacking. New Orders eased to 47.4 from 49.4, extending their recent losing streak, while the Employment Index fell to 44 from 46. The only firm spot came from Prices Paid, which stayed in expansion and inched up to 58.5 from 58.
- Recent soft economic data, paired with dovish-leaning remarks from several Federal Reserve officials, pushed traders to ramp up rate-cut expectations. According to the CME FedWatch Tool, markets now assign around an 87% probability of a 25 basis point (bps) cut at next week’s meeting. Traders now turn their attention to this week’s key releases, including ISM Services PMI and ADP Employment Change on Wednesday, followed by Personal Consumption Expenditures (PCE) inflation on Friday.
- According to a recent Goldman Sachs poll, almost 70% of global institutional investors expect Gold prices to extend gains next year, with 36% anticipating a move above $5,000 by the end of 2026 and another third seeing a $4,500-$5,000 range. Other banks share a similar view. Bank of America projects Gold could reach $5,000, Deutsche Bank sees prices near $4,950 in 2026, while HSBC is more cautious, projecting Gold in the $3,600-$4,400 range.
Disclaimer
This article is intended for educational purposes only. The views and opinions expressed are those of individual analysts or brokerage firms and do not represent the views of GoldSilverReports.com. Investors are strongly advised to consult certified financial experts before making any investment or trading decisions.
| Follow us on |
| Telegram, Whatsapp , Facebook, Twitter, Instagram, YouTube, Google Business Profile and Truth Social. |