Dollar Index 101.59$
COMEX Gold is getting ready to move towards target 1885$ with base price of 1840$. which will apply now in new contract.
Gold current contract will remain under pressure only cause of expiry. So positional trader will buy gold only in new contract now. As the base price of Gold has been 50800 in new contract where it made a low of 50762 in August & moving towards the target of 51627 around.
Range: 50800- 51500
Our Preference: Buy Gold 50900+ for target 51500 with SL only below 50700
Alternative Scenario: Sell Gold 51600 with SL 51800
Range: 61048 - 62500
Our Preference:Buy Silver 61100+ for target 62200 with SL 60700
Alternative Scenario: Buy Stop in Silver 62550+ for target 64400 SL 62100
62250 SL 200 point