Its a month of March, Expiry of Gold contract.
- Interest rate hike decision will be decide on 23rd March 2023.
- How much rate hike will be done by 0.25% or 0.50%.
- Friday tomorrow Non Farm employment Change will be declared.
Fundamentals fro the Day
6.00 pm Challenger Job Cuts y/y
7.00 pm Unemployment Claims
8.30 pm FOMC Member Barr Speaks
11.31 pm 30-Y Bond Auction
Gold
Range: 55300 - 54423
Our Preference: Sell Gold 55100 for target 54500 with SL 55225
Alternative Scenario: Sell Gold 55390 for target 54700 with SL 55501
Buy Call
Buy Gold 54430 with SL 54300 for target 54900
Trading Zone
Buy Gold 54850 with SL 100 point for target 55050
Gold is @ 50% at price of 54423 so this will be a good buy point of High 58847 & Low 50000.
Silver
Range: 61200 - 62350
Our Preference: Buy Silver 61200+ for target 62200 with SL 60900 below only
Alternative Scenario: Sell Silver 62350 for target 61300 with SL 62650+
Silver has open the gate of 58143, where it will take a small support @ 60235 for 1 or 2 days only.
63190 is a top resistance as of now in Silver.