Cryptocurrency Prices by Coinlib

Daily Bullion Report 11 Apr 2022

Latest Updates

    India's forex reserves fall by $11.17 bn in sharpest ever weekly drop

    Forex reserve levels: For the previous week - ending March 25 - reserves slid by $2.03 billion to $617.648 billion.

    Effect: India's Forex reserve move down which impact directly on USDINR get negative, as well as Gold reserve is also falling, which indicates RBI needs to re balance the gold shortage both the point are positive for GOLD in Indian Market.

Gold

As we mention in all our reports GOLD will remain upside only as per all fundamentals ... COMEX gold just gave the break out of 1951$ + today which will move for target 1987$ only. So positional trader will buy around 1950$ again.

Range: 53286 -52000

Our Preference: Buy Gold 52100+ for target 52948 & 53286 with SL only below 51890 only

Alternative Scenario: Sell Gold 52948 for target 52200 with SL only above 53100+

Trading Zone

52750 Sell SL 100 point

Silver

Range: 69188 - 6750

Our Preference: Buy Silver 67500+ for target 69100 with SL 67000

Alternative Scenario: Sell Silver 69188 with SL 69455+ for target 1200 point

As we mention in Silver, positional trader will remain in Buy only

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Bullion Report