Daily COMEX Bullion Report for the Day of 3rd May 2023

Fundamentals for the Day

5.15 pm ADP Non Farm Employment Change

7.15 pm Final Service PMI

7.30 PM ISM Service PMI

8.00 pm Crude Oil Inventories

11.30 pm FOMC Statements

Fed Fund Rate

12.00 PM FOMC Press Conference

Gold has taken a breakout of just 1 day before Fed meeting.

There are so many things going on at a time.

Janet Ye

Gold

Range: 2020$ - 2060$

Our Preference: Buy Gold 2023$+ for target 2038$ till evening in late night after 11.30 PM target 2060$ with SL only apply below 2016$

Alternative Scenario: Sell Gold 2065$ for target 2030$ with SL 2072$

Silver

Range: 25.33 - 26.2

Our Preference: Buy Silver 25.40$ for target 26.20$ with SL 25.20$

Alternative Scenario: Sell Silver 26.40$ for target 25.50$ with SL 26.61$+ only if sustain

Breakout above 26.85$+ will open the gate for 28.8$ in Silver

Pricing

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