- Yesterday,
- Fed governor Chris Waller says on rate cuts:
"If you see this [lower] inflation continuing for several more months, I
don't know how long that might be—3 months? 4 months? 5 months?—you could then
start lowering the policy rate because inflation's lower."
- In case it wasn't
obvious, there is little appetite even among some hawks for a Fed hike at the
next meeting. Fed governor Chris Waller erases any doubt about this in remarks
Tuesday indicating the Fed will extend its rate-hike pause into early 2024.
- Fed's
Waller: Increasingly confident policy is well positioned
Impact: As we see Gold move & cross 2020$+ where we mention Buy gold for upside move till 2044$.
Now today Gold's upside move's may be the last day.
We prefer selling side on Gold maximum By tomorrow afternoon.
Gold
Range: 63100 - 61250
Our Preference: Sell Gold 62950 = 1952$ in spot target 62150 & 61500 with SL 63150+ only if sustain ( Holding Position)
On upside If Gold come around 2070$ = 63400 around Again sell on the same price with risk apply only above 63650+ for the same target 62150 & 61500
Silver
Our Preference: Sell Silver 75500 with SL 75850+ for target 74000 & 73000
Alternative Scenario: If cross 75850+ then Sell again Silver @ 76550 for same target 74000 with SL 76850+