RBI Surprises By Holding Both Rates Steady
Interest declare no change in interest rates
Impact: USDINR will take upside move based on this, which cause Gold move upside.
Fundamentals for the day
7.00 PM US CPI M/M
Core CPI M/M
9.00 PM Natural Gas Storage
11.31 PM 30-y Bond Auction
Gold cross Important resistance 1832$, MCX 48500+ & sustaining which clear Gold will move upside in COMEX till 1850$ around while MCX Gold will move additional with the help of USDINR increases till 75.30 Rs around. which cause additional upside move in MCX compare of COMEX.
Silver sell call given at 62728 where High was 62769, still it hold this price both in mcx & comex.
As per comex GOLD buy @ 1832$ for target 1850$ with SL 1827$ below only, A trader can match COMEX with MCX & trade accordingly for higher accuracy.
Range: 48500 - 49100
Our Preference: Buy Gold 48500+ for target 48900 with SL only below 48360
48700 buy with SL 80 point for jobbing purpose only
49050 sell with SL 80 point for jobbing purpose only
Range: 63834 -61900
Our Preference: Buy Silver 62150+ for target 62728 with SL below 61850
Alternative Scenario: its conditional - As Silver cross 63050 then only Buy when came down again 62750+ for target 63834 with sl 62400
62600 Buy Silver with SL 200 point
Positional Trader will remain in Buy side only as mention in earlier reports.