Fundamentals for the Day
2.45 am FOMC Member Logan Speaks
8.30 pm CB Consumer Confidence
10.15 pm FOMC Member Barr Speaks
11.30 pm FOMC Member Barkin Speaks
- Trump Says Tariff on Canada & Mexico "will go forward"
- "The Tariff are going forward on time on schedule"
- Fresh Buy position is little suspicious at this price
- Gold future may take a high of 2984$ around & will be back downside as per our assumption
- on the other side Indian Equity have a good downside space which is negative for USDINR as of now which is positive for a Bullion on MCX.
On 4th March further announcement will be declared for a New direction of Gold
- Positional Call: On MCX Gold 86500 to 87200 is a selling zone for an Investor with a risk apply only above 87400 for a target of 84500 & 83100
Gold
Range: 86900 - 84500
Our Preference: Sell Gold 86900 with back up sell @ 87200 target 84500 with SL 87400
Alternative Scenario: Buy Gold 84700 with SL 84500 below for target 85500
Trading Zone
86550 Sell for a session with SL 86690
85550 Buy for a Session with SL 85400
Silver
Range: 94000 - 97500
Our Preference: Buy Silver 94500 with back up buy 93900 target 97000 SL 93700