Daily Bullion Report of 11th Feb 2022

Latest Updates

Whispers Of An Emergency Fed Rate Hike As Soon As Tomorrow or by 14th Feb in emergency close door meeting of Fed
This will create panic volume in the market with upside down movement is expected- keep in mind its just based on rumours only. So keep yours eyes & ears open for a sudden movement based on unexpected events or announcement.

Fed funds contract which has spiked to 13bps, suggesting 5bps of tightening relative to the effective Fed funds rate of 0.08%
February contract expires on Feb 28, more than two weeks before the March 16 FOMC decision.
This means that someone is preparing for an intermeeting rate hike, some time before March.
And plugging in the numbers, the 13bps in the Feb contract means that there is now a 30% chance of an emergency rate hike.

Fundamentals for the day

8.30 PM Prelim UoM Consumer Sentiment
Prelim UoM Inflation Expectation
Tentative Fed Monetary Policy Report

Yesterday,

Gold Low 48551 where we mention buy 48500+, High 48990 where we mention sell 49050 in Trading Zone. Still Gold will maintain its support @ 48500...

Silver Low 62500 where we mention Buy 62750.

Gold

Range: 48500 - 49240

Our Preference: Buy Gold 48525+ for target 48900 & 49150with SL 48370 below only.

Trading Zone

47990 Sell with SL 70 point

Till the time Gold do not break 48500 it may touch 49250 around.

Silver

Range: 61700 - 63800

Our Preference: Buy Silver 61750+ for target 62670 & 63050 with SL 61350

Trading Zone

63050 sell with SL 200 point

61330 Sell stop with SL 200 point

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Bank: IDBI Name: Tradeline A/c: 0130102000030612 IFSC: IBKL0000130 Account type: Current