Fundamentals for the Day
5.00 pm Challenger Job Cuts y/y
6.00 pm Unemployment Claims
Prelim Non Farm Productivity q/q
Prelim Unit Labor Cost q/q
7.15 pm Final Manufacturing PMI
7.30 PM ISM Manufacturing PMI & Prices
Construction Spending m/m
8.00 pm Natural Gas Storage
Yesterday,
- Fed has keep not change Interest rate & keep it same, FOMC Press conference - under which they said look worried about labor market which looks very week which indicates positive for Gold so Bullion moves upside.
- Haniyeh Leader has been assassination by Israel now Iran has declare to take a revenge of the same by war. But If Iran does not take any action which means downside for Gold, If Iran takes any action + If u hear any kind of news of War Gold will be in Open buy immediately so keep your eyes and ear open as a trader.
- If we earlier, before Import duty cut of Indian Gold - we mention buy gold support @ 70700 & below 70500 move one side down till 68000, the same way now the same level is resistance for Gold.
Gold
Range: 70184 - 69000
Our Preference: Sell Gold 70184 target 69460 & 69000 with SL 70400+ only if sustain
Trading Zone
69460 Buy for the momentum
68989 Buy for the Session
Silver
Range: 84555 - 80620
Our Preference: Sell Silver 84550 target 82000 & 80620 with back up sell 84900 & SL 85100+
Trading Zone
82250 Buy for session with SL 200 point