Daily Bullion Report for the Day of 2nd May 2023

Fundamentals for the Day

7.30 pm JOLTS Job Openings

Factory Orders m/m

Wards Total vehicles Sales

Gold up again move from Low 1985.70$ to high 2015$ in Pre-Opening US.
Where we have mention Buy Gold @ 1985 for 2nd target touch 2014.5$ Gain of 24$ straight away if trader has modify by 1$ max.
Under Alternative Scenario sell given @ 2012$ where high 2015.40$ for target 1988$ where again made a low exact 1988$ 24$ straight away with risk of 6$ only

Yesterday, Low made 1985.7$ in European Session between 2 to 2.30 PM while High was in time of 6.30 to 7 PM.

We have notice that pre-opening move of US Session use to be trapping in Post US market where we do not believe in that session particularly.

Gold

Range: 1985$ - 2022$

Our Preference: Buy Gold 1986$+ target 2012$ with SL apply only below 1978$

Alternative Scenario: Sell Gold 2013$ for target 1990$ with SL 2016$

Over in Sell Position there is immediate 2nd sell execute @ 2022$ again with SL 2028$ for same target 1990$

Breakout Sell Position in Gold @ 1978$ for target 1938.5$ where again Buy will initiate immediately for 1980$.

Silver

Range: 26.20$ - 24.33$

Our Preference: Sell Silver 25.86$ with back up sell 26.20$ for target 25.30$ & 24.75$ with SL 26.31$+

Alternative Scenario: Buy Silver 24.75$ for target 25.55$ with SL 24.60$

Silver again buy point @ 24.30$ with risk of 24.10$ for target 25.10$ = In case of Crossing 24.60$

Basically silver 's Best range is 24.75$ buy for target 26.20$ any breakout will apply one sided buy or sell again.

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