Fundamentals for the Day
9.30 pm FOMC Member Barkin Speaks
10.30 pm FOMC Member Waller Speaks
Trump: Will announce Tariff rate for semiconductor
- We have seen dramatic Buying in Gold in 2 days 200$ + in last week, where Country's Central Bank + Investor & Corporate selling their US Dollar treasuries & Physical form of American Dollar to save their currency or hedge against Trump Policy & Converted their money into Gold
- Which comes to the conclusion
- That Gold is trading on a neutral point as of now & there is no profit booking is gonna save it & moving upside again by crossing 3300$ it may take a little bit of breath after running so fast on Life time High consistency but it's clearly advisable to go with Buy side position only
- It's going as Buy on Dip is more advisable strategy specifically in Gold.
Gold (Future)
Range: 3175 - 3255
Our Preference: Buy Gold @ 3200$ with SL 3193$ for target 3240$
Our Preference 2: Buy Gold near 3175$ + for target 3250$ with SL only below 3165$ if sustain
Alternative Scenario: Sell Gold @ 3260$ with SL 3270$ for target 3218$
Trading Zone
3273$ Breakout Buy for Gold with upside 3317$ target
Silver
Range: 31.65$ - 33.11$
Our Preference: Buy Silver @ 31.65$ around for target 33$ with SL 31.35$ below only if sustain
Alternative Scenario: Sell Silver 33.11$ for target 32.20$ with SL 33.35%+