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Cryptocurrency Prices by Coinlib

Daily Bullion Report for the Day of 31st Aug 2023

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Fundamentals for the Day

5.00 pm Challenger Job Cuts y/y
6.00 pm Core PCE Price Index m/m
               Unemployment Claims 
               Personal income m/m
               Personal Spending m/m   
7.15 pm Chicago PMI
8.00 PM Natural Gas Storage

Yesterday, 

  • ADP Non Farm Employment Change was a very very negative for US Dollar & because of the same Bullion move upside move Gold.
  • Most Important part is this movement is coming exactly @ 7.30 pm afterwards which becomes game changer
  • On 29th Aug 2023 - CB Consumer Confidence was 106.1 VS 116 expectation Bullion moves upside only exactly after 7.30 pm.
  • On 28th Aug Gold breakout 1st upside move so its was last 3 days to move upside in Gold.
  • 7.30 pm is the New York time.
  • Gold Open Interest 4,48,255 which has increase by 14,274 new fresh open position
  • As per closing basis Gold sustain near High & close near by the same

What will happen  Today?
  • Today it will be side ways, Gold will breath today.

Gold 

Range: 59748 - 59158

Our Preference: Buy Gold 59158+ target 59700 with SL 59000

Alternative Scenario: Sell Gold 59748 for target 59306 with SL 59880

Trading Zone

59538 Immediate sell with SL 50 point

Silver 

Range: 

Our Preference: 76200 - 74500

Our Preference: Sell Silver 76200 target 75290 with SL 76500

Alternative Scenario: Buy Silver 74465 target 75800 with SL 74100

Buy above 76500+ target 77200 & above 77450+ will move up again
   

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