Fundamentals for the Day
6.00 pm CORE CPI m/m
CPI m/m
CPI y/y
10.31 pm 10-Y Bond Auction
11.30 pm Federal Budget Balance
- Gold Open Interest has been reduce by 5,000 1st time since last 8 days upside
- Gold has not make any new high on yesterday. Gold make one side up from 2036$ to 2203$ one way 167$ upside in future contract.
- We believe there is a Pause now on this upside or any bull run will apply above 66500+ in MCX or 2207$+ in COMEX Gold future.
- Today Evening US CPI comes negative will surpass 2200$price
Gold
Range:66350 - 65050
Our Preference: Sell Gold 66050 with SL 66200 target 65700 & below 65100
Alternative Scenario: Sell Gold 66328 target 65100 with SL 66501+
Down side Buy
65084 Buy with SL 64925
Upside Breakout Buy
Buy 66501+ target 67300
Silver
Range: 74850 - 72500
Our Preference: Sell Silver 75000 with SL 75300 target 74100