Silver’s reported targets sit farther above the suggested accumulation range than gold’s, while its support level is also farther below, in figures LiveMint and Business Today attributed to Religare Broking.
Those reports put silver’s accumulation range at ₹150,000–₹163,000 per kilogram, with targets of ₹217,000 and ₹255,000 and support at ₹109,000. Gold’s reported range is ₹130,000–₹135,000 per 10 grams, with targets of ₹150,000 and ₹158,000 and support at ₹121,000 per 10 grams. The reports say a fall below either support level would invalidate the positive outlook.
Compared with both ends of each reported accumulation range, silver’s targets imply price gaps of 33%-45% and 56%-70%; gold’s imply 11%-15% and 17%-22%. For each target, the lower percentage uses the higher end of the accumulation range, while the higher percentage uses its lower end. Silver’s support is 27%-33% below its range, compared with 7%-10% for gold. These are arithmetic comparisons of reported levels, not expected or guaranteed returns.
The reports did not specify the period covered by the targets.
The World Gold Council said gold-backed exchange-traded funds added 211 tonnes in the third quarter, bringing quarterly inflows to a record $31 billion.
On Oct. 28, the Federal Reserve held its target range at 3.75%-4.00%, and the Federal Open Market Committee said inflation remained elevated. The U.S. Bureau of Labor Statistics (BLS) reported that consumer prices rose 3.7% over the 12 months through September. The October CPI report is scheduled for Tuesday, Nov. 10, at 8:30 a.m. ET.
