Daily Bullion REPORT for the Day of 22nd January 2025

Fundamentals for the Day

Commentary:

Gold future has cross 2761$ + Spot price has cross 2727$+ which indicates Gold spot will touch upside 2770$
Open Interest of Gold has sudden increasing by from 5,56,644 to 5,71,852 increase by 15,208 open buy lots which indicates upper side in Gold
Upside in Gold future we expect 2810$ which is a Good resistance where Selling position can be created with risk apply only above 2818$+ if sustain

Below COMEX Future Gold & Silver levels as per the same follow in MCX ONLY

Range: 2755$ - 2810$

Our Preference: Buy Gold 2755$+ for target 2786$ & 2810$ with SL 2748$ below

Alternative Scenario: Sell Gold 2810$ with SL 2817$+ for target 2755$

Upside Breakout in Gold 2820$+

Silver ( Future)

Range: 31.24$ - 32.0$

Our Preference: Buy Silver Future 31.42$+ for target 31.95$ with SL 31.15$

Alternative Scenario: Sell Silver @ 32.07$ with SL 32.37$+ for target 31.42$

Breakout Buy 32.42$+ only

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