Fundamentals for the Day
No major events – apart from speech
Latest News,
China, US to form bilateral trade and investment councils, agree on $30B reciprocal tariff cut
CHINA, U.S. TO FORM BILATERAL TRADE AND INVESTMENT COUNCILS
CHINA, U.S. AGREE ON $30B VS $30B RECIPROCAL TARIFF CUT
China commerce ministry: importing US coal complements domestic market, offers stable economic returns and jobs for US industry
US Treasury Secretary: Iran’s economic isolation will be implemented in phases
US Treasury Secretary: Iran’s economic isolation will be implemented in phases and includes cryptocurrencies, aviation, and maritime transport
US Treasury Secretary to Fox News: We allowed more than a billion barrels of oil to leave the Strait of Hormuz in exchange for zero barrels for Iran.
Effect: US- China Tariff cut off- deal moves on well which is negative for Gold directly, US-IRAN is still
XAUUSD – Gold
Range: 4168$ – 4320$
Our Preference: Buy Gold @ 4170$+ for target 4251$ & 4320$ with SL 4145$ below only if sustain (Modify SL with 4139$)
Alternative Scenario: Sell Gold @ 4139$ for target 4020$ with SL 4170$+
Trading Zone
XAGUSD – Silver
Range: 59.68$ – 63.50$
Immediate Sell @ 62.60$ for target 61.32$ with SL 0.30 Cent
Our Preference: Sell Silver @ 63.50$ target 61.32$ with SL 64.20$
Alternative Scenario: Buy Silver @ 59.70$ for target 63.5$ with SL 59.20$
Silver has already Break 62.30$ after many support given at this point – and finally it has break down which goes to 59.70$ around after this point.
