Fundamentals for the day
6.45 PM ADP Non Farm employment Change
8.15 PM Final Service PMI
9.00 PM Crude OIL Inventories
It's a NON Farm Week which will be published on Friday. Which is expected to be positive and that is negative for Gold.
COMEX Gold has taken a low of 1798$ & moved up again till 1815$, at the same time USDINR is sustaining near 74.40 Rs which causes MCX Gold trade around 47950.
Range: 47600 - 48200
Our Preference: Buy Gold 47600+ for target 48000 with SL 47480 below only.
Alternative Scenario: Sell Gold 48200 with SL 48380 for target 47750
Momentum Call: Buy Gold 47855 for target 48050 with SL 47790
47970 Sell SL 100 point
Range: 61200 - 62500
Our Preference: Buy Silver 61655 with back up buy 61200 for target 62370 with SL only below 61000