Fundamentals for the Day
6.00 Core PPI m/m
PPI m/m
10.45 pm FOMC Member Bostic Speaks
- Iran Israel war has got much tense since last 48 hours based on this Gold is trading as a safe heaven buying If this WAR happens.
- As of now there is clash into the Iran parliament is self. China Declare his support to IRAN Yesterday.
- If IRAN Directly attack on the Israel in that scenario US has ready its WAR ships into the middle east sea to support the Israel. But its merely 10% chances of Direct war by IRAN or attack to Israel.
- Gold has cross its resistance but upside is getting very power is very low.
- On Wednesday now Gold will move as per the CPI data on Wednesday.
Gold
Range: 71065 - 69722
Trend: Till tomorrow Up side
After CPI - Downside till weekend
Our Preference: Sell Gold 71065 target 70250 & 69722 with SL 71200+ only if sustain
Alternative Scenario: Buy Gold above 71270+ target 71731 with SL 150 point
Trading Zone
70731 Sell SL 70810
Silver
Range: 82771 - 78250
Our Preference: Sell Silver 81650 target 80250 with SL 250 point
Alternative Scenario: Sell Silver 82771 target 80250 & 78250 with SL 300 point