Daily Bullion Report for the Day of 22nd Nov 2023

Latest Updates

• Israeli government approves 4-day ceasefire and the release of 150 Palestinian prisoners in exchange for 50 hostages
• Israeli government approves hostage deal, pause in fighting with Hamas in Gaza
• Why It Matters : If HAMAS Israel War completed the bigger fear factor of something happen between War will be completed which is also -tive for Gold. 

• Gold made a high of 61360 where we gave a sell position @ 61190 it has cross our stop loss but could not sustain as well as breakout buy was above 61350 where also it has not survive more than 10 Rs only
• As per COMEX future 2007$ of level is working as of now which we have given a short 3 weeks ago 
• Silver made a high of 73713 where our sell was @ 73700
• Gold Open interest has been increase from 4,88,000 to 5,09,000 as a long position with its Volume also which indicates Gold remain upside so we prefer to buy above breakout point 61600+  

Fundamentals for the Day

7.00 pm  Unemployment Claims 

               Core Durable Goods Order m/m

               Durable Goods order m/m

8.30 pm  Revised UoM Consumer Sentiment 

               Revised UoM Inflation Expectation

9.00 pm  Crude Oil Inventories 

10.30 pm Natural Gas Storage   

Gold 

Range: 61350 - 60600

Our Preference: Sell Gold 61400 with SL 61550+ for target 60650 

Alternative Scenario: Buy Gold 60650 for target 61050 with SL 60501

Break out Point

61580+ Buy stop  with SL 100 point

Trading Zone

61050 buy @ 1st stroke with SL  70 point

Silver 

Range: 74000 - 71500

Our Preference: Sell Silver 73750 target 72500 & 71500 with SL 74150

Alternative Scenario: Buy Silver 71500 target 72700 with SL 71150

Break Out Point

74580+ Buy Stop maintain SL of 250 point