Cryptocurrency Prices by Coinlib

Bullion Report update of 2nd May 2022

Latest Updates

Its big Week
Fed Interest Rate Hike this week on 4th May 2022
Non Farm Employment Change on Friday
Putin going for surgery & will transfer his Power to Ex KGB Boss - which assume as war will go smoother.

On Friday Gold close little downside.
Open Interest 5,61,337 & Volume 1,88,075 as per this gold will take a little upside from its support.

FOMC decision indicates Gold & Silver may continue their downside till 4th May Wednesday. No buy is allowed till that date.

Silver has already cross 23$ & moving towards 22$. Which indicates it will also remain downside only.

Gold & Silver both are in open sell position

Gold

Range: 51300 - 50650

Our Preference: Sell Gold @ 51300 for target 50750 with SL only above 51450+

Session Call: Sell Gold 51100 SL 51200 target 50825

Trend is down completely. As we mention last week After crossing 1890$ Gold has open the gate of 1820$, where it made a low of 1870.9$ & bounce back to 1921$. Which was a small hedge fund enter for Buy. But this week it does not seems like any body wants to take a Buy in a middle of such a mess. So seller will continue their sell till 4th May & exit position on 4th may night compulsory.
Buyer have to wait till4th May 2022 wed & Buy @ 1820$ match with MCX & Buy Gold for positional.

Silver  (new)

Silver is trading in open sell area

Range: 63700 - 62000

Our Preference: Sell Silver 63500 SL above 63900+ for target 62000

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Bullion Report