Fundamentals for the Day
BOJ Policy Rate increase by 0.25%
4.00 pm ECB President Lagarde Speaks
6.45 pm Capacity Utilization Rate
Industrial Production m/m
7.00 pm FOMC Bowman Speaks
7.30 pm CB Leading Index m/m
9.15 pm FOMC Member Schmid Speaks
XAUUSD – Gold
US Federal rate hike done Gold took a Dip based on the same news by 120$+ has been completed – nothing due which make a pressure on Gold Silver to remain downside.
Today Morning – Japan Hike interest rate by 0.25% from 1% to 1.25% – Japan has more stable economy by lending other like in US Bond too – this hike will get more money into their own system too –
Saudis tell Europe oil refiners they will get no crude next month
ECB’s Lagarde Says Economic Future Is Uncertain
Lagarde says ECB rates do not move in lockstep with energy prices as growth, consumption and other factors also play a role
ECB’s President Lagarde: Clear that energy is a significant variable. We are well positioned to respond.
ECB’S LAGARDE SAYS YIELD INCREASE IS A GLOBAL TREND.
ON every Dip Gold Silver will go with a Buying side opportunity only
Gold
Range: 4400$ – 4320$
Our Preference: Sell Gold @ 4399$ for target 4317$ with SL 4421$
Alternative Scenario: Buy Gold @ 4422$ target 4466$ SL 20$
Trading Zone
4466$ – Sell @ 1st stroke (it’s 50% price of H – 4697$ L-4235$)
4317$ Buy @ 1st Stroke with SL 10$
4284$ Buy for session
Positional Trader will continue with their Buy and Hold position of Gold
Silver
Range: 67.72$ – 63.50$
Our Preference: Sell Silver @ 67.20$ to 67.50$ with SL 67.80$ for target 65$
Alternative Scenario: Buy Silver @ 63.50$ with SL 63$ for target 65$
Silver Positional Buy and Hold will continue
