📅 Fundamentals for the Day
🕦 11:30 PM IST — Donald J. Trump speaks
📜 Supreme Court of the United States verdict expected today on tariff authority → elevated volatility in precious metals.
-
Gold has formed top resistance at ₹1,22,187 (made high at ~₹1,22,325).
-
Below this resistance, the downside gate opens toward ~₹1,15,450.
-
Our bias: Sell on excessive highs; zig-zags will be frequent but short-term trend remains downside till ~₹1,15,450, with upside capped at ~₹1,22,185.
🟡 GOLD
Range: ₹1,22,000 − ₹1,15,450
🔧 Our Preference:
-
Sell @ ₹1,21,000, with backup SELL @ ₹1,21,250 for target ₹1,17,500.
-
SL (stop-loss) ~ +200 points above entry.
🌀 Session Call (Intraday Alternate):
-
Buy Gold @ ₹1,19,055, SL ₹1,18,850, target ₹1,20,200.
🔁 Alternative Scenario:
-
Buy Gold @ ₹1,15,450, SL ₹1,15,150, target ₹1,19,000.
⚪ SILVER
Range: ₹1,50,000 − ₹1,43,500
🔧 Our Preference:
-
Sell Silver @ ₹1,48,870, target ₹1,44,500.
-
Backup Sell @ ₹1,49,500, SL ~ ₹1,50,000+ (only if sustain).
🔁 Alternative Scenario:
-
Buy Silver above ₹1,44,200+, target ₹1,47,000, SL below ₹1,43,500 (only if sustain).
🌍 Market-Important News for the Day
-
China announced a suspension of its 24%-additional tariffs on U.S. goods for one year, effective November 10, though it retains a 10% base levy and a 13% tariff on U.S. soybeans.
-
This move follows recent trade talks between Trump and Xi Jinping, boosting hopes for easing trade tensions—but the soybean duty remains a sticking point, and supply-chain risk persists.
-
Such news is key for precious metals because trade & tariff policy strongly influence the U.S. Dollar and safe-haven demand. A trade-risk reduction could weigh on gold/silver, whereas renewed tension could drive a bounce.
🧠 Tradeline Capital Insight
Expect a high-volatility session as the Supreme Court ruling meets trade-policy headlines.
-
If the verdict is favourable to tariff authority → USD strength → Gold/Silver likely pressured.
-
If the verdict is ambiguous or negative → safe-haven demand may give a bounce, but our bias still favours selling from high.
Maintain tight stop-loss discipline, monitor key resistance zones, and avoid being caught in wide-range zig-zags.
📣 “Trade smart. Stay disciplined. Control your lot size.” – Tradeline Capital
