Asian Metals Market Update for 26th March

March 26, 2025

Momentum and sentiment are bullish for gold, silver, and copper. Intraday traders now need to look for signs of quarter-end profit booking. A hyper-bullish quarter aided by a continuous inflow of Trade War News has been equally bullish for precious metals and non-ferrous metals. So any fall (if any) till 4^th April (day of US March non-farm payrolls) release will be called profit-taking and not a bearish trend. Sometime large traders close their profitable trades after the end of the quarter for accounting purpose and Net Asset Value (NAV) purpose.

From Friday/28^th March to the Good Friday holiday on 18^th April, news flows will be huge and sometimes confusing. We need to segregate which news will impact the selected asset class in which we are invested and which news flow we should ignore. Too much hype is there for everything, be it so-called US Recession Threat and/or Trade Tariff and/or Firm to rising bond yields. Even gold price has an element of flight to safety. Low-risk takers are also sitting on a large cash pool and probably will invest when there is clarity on the impact of the so-called global trade war.

What next (for global trade) after Trade tariffs are implemented by US President Donald Trump? This fella will ensure that financial markets never relax. He will be continuously saying something or the other or tweeting. Global economic performance from March month to July month is key from a long-term perspective. Key impactful news, by way of stagflation, etc, Ukraine peace or no Ukraine peace will be crystal clear by the end of July. If you want to invest (in precious metals and non-ferrous metals, then try to visualize the global economic scenario on or after July of this year.

SPOT SILVER – current price $33.62

TODAY VIEW: Spot silver has to trade over $33.21 to rise to $34.58, $35.14 and more.
A mild sell-off will be there only if spot silver trades below $33.45 today.
A fifty-day simple moving average of around $32.31 is the key support.
Views are intraday.

Disclaimer

The investment ideas provided is purely independent view point and are solely for collective learning and for academic interests. There is no commercial benefit accruing or have deemed to accrue to me out of providing such investment ideas.

The investment ideas shared here cannot be construed as investment advice or so. If any reader is acting on these advices, they are requested to apply their prudence and consult their financial advisor before acting on any of the recommendations made here. I am not responsible to anybody in the event of profits and losses (if any) upon acting on such advice.

I hope that our reader is aware about this well aware of the risk involved in trading in commodity derivative trading.

Disclosure: I trade in India's MCX commodity exchange. I have open positions in India's MCX commodity future. I do not trade in CME future or OTC spot gold and spot silver.

NOTES TO THE ABOVE REPORT