Daily Bullion Report for the Day of 25th Oct 2023

Fundamentals for the Day

CAD Rate Statement

7.30 pm New Home Sales

8.00 pm Crude Oil Inventories

Gold

Range: 61100 - 60400

Our Preference: Sell Gold 61100 for target 60400 with SL 61300

COMEX Gold has a quiet good resistance @ 2007$ from where we expected 1954$ target where Gold made a low of 1964.4$ so still 1954$ low is due.
Breakout Buy will be applicable only above 2015$+ for target 2063$, but till the time will remain downside only.
yesterday, After the news of Russian President Putin's Heart attack in his bedroom of Moscow - Gold & Crude make sharp downside move till 5 PM.
Post that it make a good recovery from 1964.4$ to 1988$
On downside MCX Gold is expected around 59713 with again Buy point

Trading Zone

60825 Sell SL 100 point

Silver

Range:73186 - 71219

Our Preference: Buy Silver 71219 target 72800 with SL 70800

Alternative Scenario: Sell Silver 73250 target 72250 with SL 73600+ only if sustain

Breakout sell below 70800 for target 69600 with risk of 300 point

Pricing

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