Cryptocurrency Prices by Coinlib

Daily Bullion report update on 7th April 2022

Latest Updates

FOMC Meeting minutes

  • Plans for Reducing the Size of the Balance Sheet
  • Participants
    • generally agreed that monthly caps of about $60 billion for Treasury securities and about $35 billion for agency MBS would likely be appropriate
    Fed has decided to reduce its Bond buy from $120 Billion to $95 Billion reduction by $25 billion.
  • Effect: Supply side will increase in stock market in compare to demand which will reduce cash flow in economy, this will impact negative on US Indicies & couple of stocks but positive for US Dollar as a currency, positive for T-Bond, simultaneously highly positive for Bullion.
  • Only negative point for Bullion is to increase an interest by 25 to 50 basis point but this decision will be taken in the month of May, so there is a high probability that Bullion may take upside in next 72 hours based on this.
  • EU & US are preparing for new sanctions on Russia
  • US& SPR (Strategic Petroleum Reserve) decided to release about 180million barrel in the market which cause negative for Crude but for short term only or technically to maximum till 94$ around then it will reverse to move upside again.
 
Gold

Range: 52100 - 51250

Our Preference: Buy Gold 51300+ for target 51900 & 52150 with SL only below 51180

Alternative Scenario: Sell Gold 52100 with SL 52250+ for target 51650

Trading Zone
51960 sell @ 1st stroke
51525 Buy @ 1st stroke

maintain SL of 75 point

Positional trader will remain in Buy side only with mention back up both in Gold & Silver

Silver

Range: 67510 - 65300

Our Preference: Buy Silver 65880+ for target 66900 with SL  65600

Alternative Scenario: Buy Silver 65200+ for target 67510+ with SL only below 64700




Category :

Bullion Report