00:00If we look at November, we can see a correction in gold and silver.
00:04What exactly is happening in the commodity market?
00:06Please explain this to our viewers in a short time.
00:11Yes, I think we are talking at a very interesting time, Mr. Digvijay.
00:17When we met last time, it was the beginning of Diwali, it was the time of Diwali.
00:23The levels were also very good and we were all-time high in both gold and silver.
00:31Now that we are talking, I think we have seen a very good correction in both metals.
00:38First, if we talk about gold, I think there are three major factors that are impacting the commodities overall at this time.
00:46First, we saw the US presidential election last week, where President-elect Trump has been re-elected from the Republican Party.
00:56The second was the Fed meeting, where there was a cut-off of 25 basis points.
01:02But the commentary that came from Governor Powell was a bit mixed.
01:06So, market participants are less hopeful about the rate cut in the future.
01:12And the third thing was the China meeting that was fixed from 4th to 8th, where the market participants were also a bit disappointed.
01:22So, because of these three things, we are seeing a sell-off in the commodities market overall.
01:27So, how long will the effect of these three triggers be seen?
01:32Will this sell-off last till December or will we see it in the long term as well?
01:39Will the prices of commodities decrease in the future?
01:44If we talk about silver, we have seen a low of almost Rs. 88,000 from almost Rs. 100,000.
01:56So, I think immediate support, which we talked about last time, has come somewhere.
02:03I will not say that all-in-buy should go once again.
02:09There can be a little more space at the bottom.
02:12But one factor to keep in mind is the dollar index.
02:16Because the dollar index is creating a 6-month high of around Rs. 106 on a continuous basis.
02:22US yields are also increasing somewhere.
02:25We are seeing that the 10-year yield is around 4.3-4.4%.
02:30So, till the time these two things are at the top, there can be some pressure in commodities.
02:35I have a sense that there will be some consolidation in gold and silver.
02:40We can see some broad-range trading here.
02:44We can get a chance to see the same support again.
02:47We should keep buying deep.
02:49But it will take a little more time to go all-in.
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