- Federal Reserve raises interest rate by 0.50% — the largest rate hike since 2000
- Its most aggressive move since 2000 — and signaling further large rate hikes to come.
- The increase in the Fed’s key rate raised it to a range of 0.75% to 1%, the highest point since the pandemic struck two years ago.
- The Fed also announced that it will start reducing its huge $9 trillion balance sheet, which consists mainly of Treasury and mortgage bonds
- Yesterday Gold open interest increase 5,73,758 & volume 1,92,762 both of them are up which indicates Gold will remain buy side only on mention levels.
Gold has made its base by 50500 in MCX & 1850$ in comex as of now.
Range: 50900 -51900
Gold made high 51320 today where we mention Buy Gold yesterday night 11.25 pm, positional trader will book @ 51450 & 52080 target
Our Preference: Buy Gold 51074+ for target 51500 & 51900 with SL only below 50900
Alternative Scenario: Buy Gold 50746+ for target 51500 & 51900 with SL only below 50620
Silver we bought yesterday night @ 11.25 pm as mention yesterday & today high @ 64211 - positional trader can hold with target 65260 & add more above its breakout. Bottom range has been made as of now 61920.
Range: 63062 - 65250
Our Preference: Buy Silver 63425+ for target 64500 & 65250 with SL only below 63100
Alternative Scenario: Buy Silver 62603+ for target 64500 & 65250 with SL only below 62200