Bullion Report update of 2nd Feb 2022

Latest Updates

Interest will increase in March Fed Meeting by .25 basis points
Comex has a base price of 1780$ as of now. Any down side will be below 1772$ only not before that.
This is the Non Farm Week. Both the data - ADP non Farm employment change & Non Farm employment change expected week which is a positive for Bullion.

Fundamental Of the Day

7.00 PM ADP Non Farm Employment Change

9.00 PM Crude Oil Inventories

All Day OPEC - JMCC Meeting

Gold

Range: 47600 - 48500

Our Preference: Buy Gold 47780 SL 47650 for target 48200

Alternative Scenario: Buy Gold 47500 for target 48100 with SL 47350

Positional Trader will remain on Buy side till 1780$ back up for upside 1830$ till Friday Night.

Trading Zone

48200 Sell @ 1s stroke with SL 100 point

48500 Sell @ 1st stroke with SL 100 point

Silver

Range: 60900 - 62175

Our Preference: Buy Silver 61000+ for target 62100 with SL only below 60600

Positional Trader will buy Silver 61000 with back up 60300 for target 63122

Pricing

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Bank: IDBI Name: Tradeline A/c: 0130102000030612 IFSC: IBKL0000130 Account type: Current