- On Wednesday Night FED meeting for hike interest rate. Due to which market is trying to discount in advance. As interest rate is hike from 0.25% to .50% in between.which we stated in yesterday's report
China orders 51 million people into Lockdown as COVID numbers spike.
Range: 51500 - 52850
Our Preference: Buy Gold 51510+ for target 52500 with SL only below 51350
Alternative Scenario: Sell gold 52700 for target 52120 with SL 52850
COMEX Gold has a buy support @ 1929.7$ which is a 50% price of 2078.6$ High - Low 1780.6$.
Range: 66514 - 70000
Our Preference: Buy Silver 67700+ for target 69000 with SL 67227
Alternative Scenario: Buy Silver 66514+ for target 68500 & 69796 with SL only below 66100