Daily Bullion Report for the Day of 29th Jan 2025

Fundamentals for the Day

7.00 pm Good Trade Balance & Prelim Wholesale Inventories m/m

8.15 pm CANADA BOC Overnight rate (Interest rate cut)

12.30 am Federal Fund Rate ( Expected No rate cut today)

FOMC Statement

1.00 am FOMC Press Conference

Gold

Range: 80700 - 78856

Our Preference: Sell Gold 80700 target 79500 & 78850 with SL 80950+

Fed interest rate is not expect to cut tonight but in FOMC press conference if the commentary is good to say that will not change in next 4-5 months then gold will move by default down
We expect to carry forward sell position tonight sell @ 80700 or @ 11.30 pm which ever comes 1st for target 78850.

Trading Zone

79900 Buy for session with SL 100 point

Silver

Range: 92372 - 89350

Our Preference: Sell Silver 91514 with SL 91800 target 90390 & 89350

Alternative Scenario: Sell Silver 92372 with SL 92700 target 90390 & 89350

Pricing

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Cash
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Bank: IDBI Name: Tradeline A/c: 0130102000030612 IFSC: IBKL0000130 Account type: Current