Cryptocurrency Prices by Coinlib

Daily Bullion Report for the day of 27th Dec 2023

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No major fundamentals for the Day 


Market Commentary

  • Dollar Index is getting weaker which is trading @ 101$ around which is positive for Gold 
  • Open Interest has been increase by 12,000 since last 7 days which is a positive for Gold 
  • COMEX Gold future has cross & sustain 2070$ + which will try to touch 2102.70$ is a positive breakout
  • MCX Gold has cross 63144 & open above the same which is quiet positive sign for Gold
  • USDINR is trading @ 83.30 Rs but it should get stronger but it trade on the opposite side of its direction because of Forex Reserve
  • Based on this we prefer to remain on Buy side or to have a Fresh buy above 63150 for target 63850 around

Gold 

Range: 63100 - 63900

Our Preference: Buy Gold 63150 for target 63850 with SL 62900

Alternative Scenario: Sell Gold 63900 with SL 64100 for target 63350

Trading Zone 

63603 Sell for the momentum with SL 80 POINT

Silver 

Range: 76374 - 74800

Our Preference: Sell Silver 76300 for target 75000 with SL 76600

Alternative Scenario: Buy Silver 74800 target 75600 with SL 74500

Downside Silver Silver again take a support @ 73800 for the Buy position



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