Daily Bullion Report for the Day 10th May 2023

Open Interest of Gold increase consecutively on 2nd day with a lower volume & upper price by 4,000 again which indicates pricing wants to go higher only.

Fundamentals for the Day

6.00 US CPI M/M

CPI Y/Y

Core CPI M/M

8.00 PM Crude Oil Inventories

10.31 PM 10-Y Treasuries Bond Auction

11.30 PM Federal Budget Balance

Gold

Range: 61350 - 60650

Our Preference: Sell GOLD 61350 for target 61080 & 60855 with SL 61501

Alternative Scenario: Buy Gold 61501+ for target 61845 with SL 61350 below only if sustain

Silver

Range: 78000 - 75900

Our Preference: Sell Silver 26.20$ = 77950 with SL 78400 = 26.45$+ for target 75900 = 25.40$ around

Alternative Scenario: Buy Silver 26.60$+ = 78600+ only if sustain which will open the gate of 84000 target around with SL apply at least 1500 point.

Pricing

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