Daily Bullion Report for the Day of 12th Sept 2023

Fundamentals for the Day

3.30 pm NFIB Small Business Index

10.31 pm 10-y Bond Auction

Yesterday,

Gold Open Interest 4,35,568 & Volume 1,36,658
Which is in very tight range from 1955$ now it may touch 1933$ around which is again a Buy point for the day
Gold is waiting for a CPI Inflation data will release on Tomorrow @ 6 pm where expectation is High 3.6% VS 3.2% which may give a Gold little bounce as it arrive as per expectation
Alternative outlook stronger CPI data will push Gold downside only where the space of 1873$ or target is still due.

Yesterday

Gold High 59100 which we mention to sell in our Session Call for target 58692 where Low made 58888

Which means still the target is due in Gold of 58692.

Gold

Range: 59265 - 58692

Our Preference: Sell Gold 59100 for target 58692 with SL 59210

Alternative Scenario: Buy Gold 58692 for target 59000 with SL 58550 below only If Sustain.

Trading Zone

58950 Sell @ 1st stroke SL 70 point

Earlier Gold made a Low of 58275 where we had given a Buy @ 58300+ which is still a strong point for a Buy
Reason: 61845 Life time High post Low 54711 where 50% price arrive @ 58275 which makes it earlier strong Buy & still it is, as it has not break by market

Silver

Open Interest of Silver 1,26,414 with volume 45,286 which is on lowest since last 1& half month

Range: 71500 - 73000

Session Call: Sell Silver 72380 with SL 72650+ target 71700

Our Preference: Buy Silver 71550+ target 72300 & 73000 with SL 71400

Alternative Scenario: Sell Silver 73250 target 71730 with SL 73550+

Trading Zone

71350 Breakout Sell for target 70500 with SL 250 point

Pricing

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