Bullion report Update of 25th March 2022

Yesterday Meeting begins between NATO Members & US for how to help out Ukraine.

Biden Press Conference :

• Weapons are flying into Ukraine as we speak to Ukraine
• We coordinating with G7, EU on food and energy security
• We will strengthen our military presence in Eastern Europe to address Russian threats || we will continue to impose unprecedented economic sanctions on Russia
• Will have more to say on energy security tomorrow - Effect: Crude oil will move as per the same which effect on Inflation & followed by Gold too.
  

Biden Warn China

• China understands econ future tied more closely with west than with Russia; need to watch for sanction violations
• Biden says: No threats made to China’s xi on Russia, but made clear the ‘consequences of helping RUSSIA’
• Effect: As per the communication deliver by US to China were a rude, which may not a good sign, Now need to watch out whether China will support Russia or not. If China support Russia then US will imply sanction against China... so we need to see carefully How CHINA reacts.

• Joe Biden says that there could be food shortages in Europe ‘Russia and Ukraine have been the breadbasket of Europe in terms of wheat’ He says that the US and Canada could increase production and trade
• It shows Russia was the largest supplier of Agri products also with Oil & Gas which will impact on Europe badly.
  
• U.S., NATO preparing for risk of RUSSIAN nuclear incidents

Effect: As per the above news till morning WAR will continue little long, Commodities price will remain high & increasing too, this indicates Bullion also remain on Buy side only

Gold

Range: 51591 - 52500

Our Preference: Buy Gold 51900+ add buy @ 1950$ match with MCX for target 52480 with SL 51700 ( only if sustain)

As we mention in Yesterday's report to Buy Gold@ 1950 If cross 1956$+ now it trading as per the same which indicates above 1950$ target is set to touch 1987$. So Buy Gold 1951$+ today also

Only issue is all trades are now switching into the new contract in comex & MCX both. So current contract move less upper side in compare to new contract

Trading Zone

51816 Buy for session

51591 Buy

51480 Sell

Maintain SL of 70 point

Our Regular follower will take only Buy position as per their lots with back up of same lots only. As upper side for positional trader target is 53200.

Silver

Range: 68900 - 71300

Our Preference: Buy Silver 68928+ for target 70114 & 71299 with SL 68600

Trading Zone

68600 Sell below this price

70114 sell for jobbing purpose only

71299 sell for the session

COMEX Silver target is 26.60$ or the day.