Fundamentals for the Day
5.30 pm FOMC Member Bostic Speaks
6.45 pm FOMC Member Logan Speaks
7.30 pm Final Wholesale Inventories m/m
8.00 pm Crude Oil Inventories
FOMC Member Goolsbee Speaks
10.00 pm FOMC Member Jefferson Speaks
10.31 pm 10-y Bond Auction
11.31 pm FOMC Meeting Minutes
- Today its Speech & Commentary Day from FOMC
- Tomorrow CPI Data will be declared which is expected 2.3% VS 2.5% previous one.
- Fed has been reaching to its target of 2% inflation almost. In this month there will be no interest rate cut will be declared.
- Its 1st time before CPI Gold has been reduce by 50$ since last 8 months.
Gold
Range: 2645$ - 2605$ in Spot
MCX Range: 74900 - 75756
Our Preference: Sell Gold 75756 target 74900 with SL 75900+ only if sustain
Alternative Scenario: Buy Gold 74900 target 75500 with SL 74700
Trading Zone
74690 Breakout Sell
Silver
Range: 88050 - 91500
Our Preference: Buy Silver 88050 target 90250 with SL 87700
Alternative Scenario: Sell Silver 90750 target 88050 with SL 91050+ only if sustain
Trading Zone
Breakout Sell 87700 for target 85025 with SL 400 point