Gold Prices have been trading in a consolidation phase with slight positive bias towards 29100/29170, but we are not expecting major rallies until it cross above the 29250 region and such initiative lift prices towards 29330/29400 or even higher. Conversely unexpected fall below 28800-770 region may drag down the prices firstly to 28670/28450.
In Silver, a swing higher is anticipated earlier in the evening. However, inability to clear 57600 on such attempts would invite a major bear plunge targeting 55000 or even 52000 in an extreme scenario. Alternatively, a push past 57600 could put bearish doubts on hold, and a direct rise past 58200-400 would straight away call for 62000
