Fundamentals for the Day
10.31 pm 10 Y-Bond Auction
- Dollar Index is trading @ 103.10 up by 0.34
- CME Open Interest has been reduce in Gold by 19,000 lots Volume Increase & Price decrease which indicate negative zone for Gold ahead.
- Israel Hamas war has not impacted a little point on Gold
- There is a much more confusion in the market between trader that Israel Hamas war will boom Gold but no it won't.
- Hamas is just a terrorist group not a country.
- Till the time IRAN will not stand against Israel directly to attack on Israel there will be zero impact on Bullion or on other product.
- As well as Whenever WAR begun 1st of all CRUDE OIL will get sky rocket but here its on reversal side so be careful & stay away from fake rumours about Fundamentals & its effect.
Gold
Range: 69700 - 68250
Our Preference: Sell Gold 69050 for target 68550 with SL 150 point
Alternative Scenario: Sell Gold 69500 with back up sell @ 69700 for target 68380 with SL 69800+ only if sustain
Trading Zone
68280 Buy for the Session with SL 150 point
Silver
Range: 80600 - 76400
Our Preference: Sell Silver 80,000 target 78250 & 76400 with SL 80450
Alternative Scenario: Sell Silver 81250 target 78250 & 76400 with SL 81500+ only if sustain
Trading Zone
76250 Buy with SL 300 point