Fundamentals for the Day
8.15 pm Final Manufacturing PMI
8.30 pm Construction Spending M/M
Market Commentary
- Gold is try to sustain above 63000 which is indicate to move still on upside
- As per COMEX Gold future is sustain above 2070$+ indicate Gold will try to touch 2100$ again
- Open Interest is still on High only which indicates lower levels for buy side only
- At the end of the Year Traders have taken their Buy in Carry forward position
- We Expect Gold 63150+ it may touch 63900 again with back up buy around 62950
- Bullion may remain on upside till next 3 days upside
- Its Non Farm Week also - On Friday Non Farm Employment Change data will release
- Wednesday Night FOMC Meeting Minutes which will be a Commentary will release
Gold
Range: 62974 - 63850
Our Preference: Buy Gold 63150 target 63600 & 63900 with SL 62950
Alternative Scenario: Sell Gold 63950 for target 63150 with SL 64150+
Trading Zone
63310 Immediate Buy with SL 70 point
63600 Sell with SL 70 point
Silver
Range: 73640 - 75400
Our Preference: Buy Silver 73640+ target 75300 with SL 73450
Alternative Scenario: Sell Silver 75350 target 74500 with SL 75650
On Friday we have given buy silver @ 73640 where Silver made a Low of 73641 & move upside.
Trading Zone
74340 Immediate Buy with SL 150 point
75700 Breakout Buy