Fundamentals for the Day
6.00 pm Core CPI m/m
CPI m/m
CPI y/y
8.00 pm Crude Oil Inventories
10.31 pm 30-y Bond Auction
11.30 pm Federal Budget Balance
Yesterday,
- Gold Open Interest 4,41,426 increase by 6,137 with volume of 1,72,959
- This indicates there has been Long Position has been add by Trader in Gold near the rate of 1930$
- COMEX Gold is standing on a trendline support which is @ 1829.60$
- Disparity of Gold COMEX & MCX are high.
Gold
Range: 58300 - 59000
Morning Call: Buy GOLD 58525 TARGET 58700 SL 70 point only
Our Preference: Buy Gold 58300 target 58692 & 58850 with SL 58150
Alternative Scenario: Sell Gold 59000 for target 58600 with SL 59150+ only if sustain
Positional Trader can Buy Gold from or near by 58300+ with risk only below 58100 for target 59100 & this target will extended if it come near by.
Trading Zone
Breakout Sell 58120 below for target 57650
Silver
Range: 70760 - 73000
Our Preference: Buy Silver 70760+ target 72250 with SL 70300 below only if sustain
Alternative Scenario: Sell Silver 72300 for target 71500 with SL 72600