Gold
Range: 57540 - 56950
Our Preference: Buy Gold 56950 for target 57350 with SL 56800 (Buy is only for intraday)
Alternative Scenario: Sell Gold 57500 for target 57000 with SL 57650 (Sell is for holding)
On a positional Base we prefer to Sell Gold for now as it will give a good down word pressure in market even for a momentum.
56900 is breakout sell point with SL 150 point
Comment: Gold is awaiting its bearish moment in Fed meeting plus Indian Budget coming on 1st Feb.
Gold has been breathing now after a long Running on upside, so it shows now no more upside then 1948$ so we prefer to Sell Gold 1948$ in SPOT price compare & sell in Future too, risk apply only above 1952$ spot price if sustain.
Silver
Range: 69350 - 67700
Our Preference: Sell Silver 68950 for target 68000 with SL 69350+ only if sustain
Alternative Scenario: Buy Silver 67700 for target 68500 with SL 67300 only
Fundamentals for the Day
There is no major Fundamentals for the Day.