Daily Bullion Report for the Day of 18th July 2024

Fundamentals for the Day

6.00 pm Unemployment Claims

Philly Fed Manufacturing Index

6.15 pm ECB Press Conference

7.30 pm CB Leading Index m/m

8.00 pm Natural Gas Storage

11.15 pm FOMC Member Logan Speaks

Gold life time High of the current contract in MCX is 74772. COMEX Gold has cross its life time high 2450$ in spot & touch 2482$. still its surviving above the same price.
Above 2450$ Gold will remain only in Buy Position till 2490$
Sell will apply only below 2440$.

Gold

Range: 74800 - 73552

Our Preference: Sell Gold 74530 with back up sell 74730 for target 74000 & 73552 with SL 74850+ only if sustain

Alternative Scenario: Buy Gold above 74900+ for target 75800 with SL 200 point

Momentum Buy @ 2450 with SL 3.5$

Breakout Buy 74900+ only target will be updated

Silver

Range: 93700 - 90500

Our Preference: Sell Silver @ 93111 for target 91500 with SL 93400

Alternative Scenario: Sell Silver 93800 with SL 94200 target 91500 & 90500

Momentum Sell @ 92600 target 91800 with SL 200 point

Pricing

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