We will buy Gold tonight in MCX @ 50300 or as per the time in closing 11.25 pm with back up buy in morning, same as Silver we will buy tonight as per the time @ 11.25 pm & back up buy in morning at 9 am.
Fundamentals of the day
5.45 PM ADP Non Farm Employment Change
8.00 PM Crude Oil Inventories
11.30 PM FOMC Statements
Federal Fund Rates
President Biden Speaks
As per the interest rate movement Gold has already move down by 150$ on basis of expectation by 0.75 interest rate hike.
Where Gold made a low 1849.7$. Now at the time of announcement 11.30 PM If gold is trading around 1875$ then it will try to touch 1835$ & will bounce back 1900$ again.
Range: 49800 - 51500
Session Call: Sell Gold 50810 with sl 100 point for 50550
Our Preference: Buy GOLD 50300+ with SL 50150 for target 50900
Alternative Scenario: Sell Gold 50999 with SL 51150 for target 50550
50470 SL 80 point
Positional Trader will Buy Gold tonight 50300 with back up buy 49850 for target 51500 & 52150
Positional Trader will stay in touch as per the updates will update only by whats app tonight.
Range: 62000 - 64500
Our Preference: Buy Silver 62000+ with SL only below 61600 for target 64000
Alternative Scenario: Sell Silver 64500 with SL only above 64800+ for target 62500
Positional Trader will only buy silver 62500 tonight & hold for a week.