Technical factor affect Gold
Gold is ready to move up only waiting for time so sit tight for one good bounce.
Future Gold price is discounted by 1.70$ which is the reason it remain on downside or with the pressure.
Dollar Index is trading @ 103.59 from its high 105.06$ which indicates gold will move up by 70$ at least from its low 1785$ which is around 1850$ & above 1858$ will move till 1881$
Gold made a High 50580 & Low 50130 where we mention Buy @ 50150 & 50580 we mention sell @ Momentum Call 50570.
Range: 49700 - 50800
Our Preference: Buy Gold 49850+ target 50550 & 50800 with SL only below 49650
Alternative Scenario: Sell Gold 50800 with SL for target 50250 with SL only above 50970
49850 Buy for the day
50570 Sell for the day (SL 70 point)
50800 Sell for the week
Range:61000 - 62500
Our preference: Buy Silver 60450+ for target 62000 with SL only below 60000
Alternative Scenario: Sell Silver 62200 with SL only above 62600+ for target 61000
Base price for silver is now 60450 - Any sell will only after crossing it successfully & sustain
Upper side COMEX Silver indicates to touch 22.50$ around which is again a good resistance to sell in this week.