Its expiry month in GOLD.
Market is taking a rest now. After a long run of Up & Down now its try to stabilize its volume. Ukraine WAR is on which means breaking events or speech are possible at any time which may create a Buy position in Bullion.
As on date, What is a more safe investment form the view of Investor, hedge fund or corporate. US Treasuries bonds & Gold will count on safe heaven in compare to rest of the financial instruments.
In the war of Ukraine -Russia, all world currencies moves downside with other indices + stocks.
Inflation remains high even after Fed interest rate hike that does not even support to balance inflation.
Supply of commodity & other chains has disturb drastically which cause all metal+bullion+agri & oils prices remain up.
Crypto Currencies has also decrease well enough but still it does not receive a investor's trust.
In such scenario - We believe Gold+Silver will be the more safe investment, even If you are physical Buyer or positional trader for future contract position.
Gold has up move from 1780.6$ to 2078.8$ where it has given a correction till 1895.2$. As of now bottom of Gold is 1885$ = 50,500. Gold is now trading sideways - As 27th March is an expiry in GOLD in COMEX .
Range: 51000 - 52386
Our Preference: Buy Gold 51117+ for target 51706 with SL only below 50951
Alternative Scenario: Sell Gold 1950$ = 51970 with SL 52150 for target 500 point.
51550 sell with SL 90 point
50900 Stop sell below for target 200 point with SL 120 point
Range: 66514 - 71000
Our Preference: Sell Silver 69000 for target 67700 with SL 69400
Alternative Scenario: Buy Silver 66514+ for target 70000 with SL 66000 (Holding)