Fundamentals for the Day
7.00 PM Core PCE Price Index m/m
Personal Income m/m
Personal Spending m/m
8.30 PM New Home Sales
Revised UoM Consumer Sentiment
Revised UoM Inflation Expectation
8.45 PM FOMC Member Jefferson Speaks
Yesterday,
- @ 7 PM After GDP Data, Gold move in a good ZIGZAG pattern from 55800 to 55515 & again touch 55780 while closing @ 55550 & today opening 55700+
- It has cross successfully 55800 it clearly indication Gold will touch 55300. So we will prefer to Selling position in Gold as well as Silver.
- There is a vast disparity in MCX & COMEX in yesterday.
- COMEX Gold touch 1824$ in spot & back again @ 1833$
Gold
Range: 56000 - 55550
Our Preference: Sell Gold 56000 with SL 56150 target 55550
Alternative Scenario: Buy Gold 55550 target 55900 with SL 55420
Trend: Sell on rise strategy with negative trend
Trading Zone
55690 Buy SL 70 point
Silver
Range:
Our Preference: Buy Silver 64250 target 65100 with SL 64000
Alternative Scenario: Sell Silver 65280 target 64550 with SL 65600
Breakout Sell Silver 64000 below open the gate of 62350 in current contract