Gold prices may drop to Rs 92000. Here are the pull factors

The World Gold Council reports that gold ETFS saw net inflows of 115 tons in April, the biggest monthly rise in more than three years and the fifth consecutive month. Nearly 65 tons of these inflows came mostly from China.

Technical triggers

· Gold prices may drop to $3200 (~Rs 92000) if they remain below $3265 (~Rs 94000) this week. And we are expected to see a $200 decline from those levels up to $3000 (~Rs 86000) if prices break and hold below $3200, which is the Double Top formation’s neckline support, analysts in India said.

· Silver prices are expected to get momentum now, as the tariff war has de-escalated. We are likely to see prices touching $34(~Rs 99000) and $35(~Rs 102,0000) soon in the coming days, analysts predict.