4 Days to go for Fed Hike interest rate.
- Gold has touch its best support @ 1685$.
- Dollar Index made a high 109.14 & now trading @ 106.62 where 106.27$ is a very Buy point for upside move till 107.30$.
- As interest rate is suppose to hike by 1% where based on that GOLD has make an advance down side move by 120$.
Effect: Gold has given advance move before Fed hike downside by 120$ almost which indicates now it will rise again towards 1751$ with this support price of 1685$ & 1677$ only. We expect Gold price will come up 1750$ by or before 30th July only.
- Any Downside move only below 1670$ will open the gate of 1620$.
Gold
Range : 49600 - 51200
Our Preference: Buy Gold 49900 with SL 49700 below only for target 50600
As per COMEX 1685$ is a Good Buy with back up 1677$ risk apply only below 1670$.
Positional Trader Buy Gold 49900+ with back up buy 49650 for target 51200 only, for a risk only apply below 1670$ which is around 49500.
Silver
As per our previous Prediction Silver below 20.20$ it suppose to touch 17.26$ where it has touch 18$ only.
Range: 53000 - 56500
Our Preference: Buy Silver 54500+ for target 55900 with SL 54100
Alternative Scenario: Buy Silver 53400+ for target 57000 & 59000 with SL only below 52800
Positional Trader will start buy Silver from 18.20$ = 54500 & 2nd back up buy @ 53400 for target 60000 only.