Fundamentals for the Day
8.00 pm Crude Oil Inventories
10.30 pm President Trump Speaks
10.31 pm 10-Y Bond Auction
11.30 pm FOMC Meeting Minutes
Market Commentary
Middle East war is on – Saudi Pipeline got attack and supply stop – Crude price may increase – Inflation is continue on Upside – Dollar Index moving upside continue- again rate hike expectations are increasing cause of that – this cause the Gold moving downside or remain downside area side ways -US Dollar & Bond are getting highest amount of money attract for investor – which cause also Gold staying low. on the opposite Gold is getting attractive buy for international trader & physical buyer @ or around 4000$ price looks very juicy which cause trouble maker for downside stop for gold more than this . In one line above all make Gold range bound of 200$
In MCX USDINR will make stop more downside as per COMEX because of the weakness in Indian Currency which make Gold downside near 147000 to 146500
Gold
Gold will try to break support & move downside till 146500 around or 4020$ in COMEX Spot so trade accordingly. Positional Trader can wait for breakout sell and try to Buy near 146500. But still follow the levels is much better.
Range: 146046 – 151000
Our Preference: Sell Gold @ 150900 target 148437 with SL 151600
Alternative Scenario: Buy Gold @ 148437 with SL 147900 target 150400
Trading Zone
150000 Sell start for the Day with SL 300 point
147900 breakout Sell target 146500 with SL 500 point
146500 Last Buy for the Day with SL 145900
Silver
Silver may break 223500 and touch 218500 – in case of COMEX Spot will try to touch 58$ around.
Range: 229500 – 218500
Our Preference: Sell Silver @ 229000 target 223500 with SL 230500+
Alternative Scenario: Buy Silver @ 218500 target 225000 with SL 216500
Trading Zone
223500 Buy Silver for session with SL 1000 point
