Daily Bullion Report for the Day of 23rd Jan 2025

Fundamentals for the Day

7.00 pm Unemployment Claims

8.30 pm Consumer Confidence

9.00 pm Natural Gas Storage

9.30 pm President Trump Speaks Today

Crude Oil Inventories

Yesterday,

On the Day of 20th Inauguration Gold future premium has increase by 45$ based on Tariff was suppose to be announce
But on 21st Jan when Trump said they will think over with its accountability & currency & then apply 25 % premium on Mexico & Canada will apply from 1st Feb 2025
Open interest is too high from since last 23 Days volume is continuously fluctuating but prices are not moving as it should be upside but with a resistance
Previous High in Gold was 79775 which is near to its DOUBLE TOP
Which shows sell GOLD @ 79775 with strict SL only apply above 80200+ Carry forward the position
This seems very suspicious
We prefer to sell Gold from 79700 to 79500 for target

Gold

Range: 79850 - 78580

Our Preference: Sell Gold 79775 around with SL 79990+ only if sustain for target 78580

Silver

Range: 93500

Our Preference: Sell Silver 92775 target 90770 with SL 93100

Alternative Scenario: Sell Silver 93500 target 91500 with SL 93850+

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