Cryptocurrency Prices by Coinlib

Daily Bullion Report Mar 7, 2022

Latest Updates

 

War is ON

Gold - Silver remain in Buy @ any rate for positional trader for target 54377 & 7400.


  • RU Military To Hold Fire, Open Humanitarian Corridors In Several Ukrainian Cities At 10:00 MSK (07:00 GMT) On Monday.
  • BREAKING: Russia declares ceasefire in the areas of Kyiv, Mariupol, Kharkov, and Sumy from 10 a.m. Moscow time to allow for evacuations

           Effect: As per this Bullion should come down only


  • CORRIDORS FROM KYIV, MARIUPOL, KHARKIV, SUMY WILL BE OPENED AT FRENCH PRESIDENT MACRON'S REQUEST - IFAX CITES RUSSIAN DEFENCE MINISTRY

Effect:

            As of now Russia is counting only days to finish the War, which means the effect of Russia vs Ukraine war on Bullion is no     more


  • U.S. Weighs Acting Without Allies on Ban of Russian Oil Imports.

So what else?

 

Russia vs EU,US & others has implied sanction on Russia. This is impact worst now. As Russia is the largest supplier of mines, minerals, oil, agriculture commodity & more in Europe.

And this supply has stop post the sanction so there is a zero supply versus regular deman which causes all metal: Copper nickel zinc lead aluminium , Energy: Crude oil, Natural Gas all upside one way & more further upside.

 

Russia has started buy gold from Monday it self as Gold will only gold if they sell or make a transaction to any country, Russian currency rubal has got worst weak vs all currency so they have only one choice to buy gold only.

 

There nothing is safe as of now in financial world... All world indices, equity stocks are going down only... Where only safe heaven which is trust worthy is US treasury bond & Gold

 

Due to this Gold will remain only upside ... within this month of March gold will cross 2100$

Update : Target for Silver in buy 74000 ,Gold buy target modify 54877

 

If we look at Gold it has just begin its journey to upside. Still more upper side targets are pending which will continue its bullish zone. We expect Gold will cross 2089.2$ its life time high target will cross before or near by by 31st March 2022.

 

Practically, Bullion remain in Buy side only at any rate without particular entry price.

 

Gold

 

Range: 52670 - 54600

 

Our Preference: Buy Gold 53280+ for target 54377 with SL below 53100 only

 

Alternative Scenario: Buy Gold 52800+ with add on buy 52680 for target 54377 with SL only below 52600 only IF sustain

 

As we stated on Friday, COMEX Gold target 2006$ & 2048$, where 2005.2$ has made today morning.

 

Silver

 

Range: 67678 - 74146

 

Silver has now bottom out support price @ 67678.

 

Our Preference: Buy Silver 69335+ for target 74000 with SL 68800 below only.

 

Positional Trader Buy Silver @ 25.88$+, 70300 for target 74000 with back up buy 69335.

 

Category :

Bullion Report