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Daily Reports

🟡 Evening Bullion Market Update of 29th Jan 2026

By January 29, 2026No Comments

  • 📉 Market Commentary (CME Open Impact)

    Gold started profit booking around 8:30 PM IST (CME opening).
    This move is mainly due to:

    • Carry forward of positions into new contracts

    • Short-term profit booking by intraday traders

    • Slight firmness in USD & bond yields after US session opened

    📌 We again confirm:
    This is only profit booking, not trend reversal.

    COMEX Gold continues to hold strong support at 5082$
    Silver base price remains firm near 106$

    🌍 Latest News (Last 3–4 Hours Affecting Bullion)

    🗞️ Market Drivers:

    • Traders booked profits after sharp upside before CME open

    • No major negative economic data released so far

    • Geopolitical risk remains high (Middle East tensions unresolved)

    • Bond yields stable, but risk sentiment still fragile

    • Dollar Index showing mild recovery causing short-term pressure on gold

    ➡️ Overall sentiment remains:
    Buy on dips, not panic selling

    🟡 COMEX Gold

    Range: 5080$ – 5350$

    ✅ Our Preference

    Buy Gold @ 5080$+

    • Backup Buy: 5050$

    • 🎯 Targets:  5340$ & 5440$

    • 🛑 SL: Below 5050$ only if sustain

    ⚠️ Alternative Scenario

    Sell Gold only below 5030$ (if sustain)

    • 🎯 Target: 4750$

    • 🛑 SL: 5080$+ only if sustain

    🎯 Trading Zone (COMEX Gold)

    • 5340$ Sell @ 1st stroke
      SL: 20$ (for Momentum)

    • 5440$ Sell @ 1st stroke
      SL: 15$ (for Momentum)

    🟡 MCX Gold

    Range: 174000 – 187000

    ✅ Our Preference

    Buy Gold @ 174568+

    • 🎯 Targets:  187000

    • 🛑 SL: 173000

    ⚠️ Alternative Scenario

    Sell Gold only below 173000

    • 🎯 Target: 168000

    • 🛑 SL: 1000 points

    ⚪ MCX Silver

    Range: 360000 – 420000

    ✅ Our Preference

    Buy Silver @ 360000+

    • 🎯 Targets: 390000 & 405000

    • 🛑 SL: 354000

    ⚠️ Alternative Scenario

    Sell Silver only below 350000 (if sustain)

    • 🎯 Target: 325000

    • 🛑 SL: 357000+ only if sustain

    🧠 Market Psychology

    Everyone is watching for correction, but:

    • Correction = opportunity

    • Trend = still bullish

    • Physical demand = strong

    • Institutional accumulation = ongoing

    📌 Strategy remains:
    ✔ Buy on dips with backup
    ✔ Avoid over leverage
    ✔ Control lot size
    ✔ Trade with trend

    🏆 Final View – Tradeline Capital

    Short-term profit booking after CME open is normal.
    As long as Gold holds above 5080$ and Silver above 106$,
    bullion trend remains positive and strong.

    “Profit booking is temporary, fundamentals are permanent.”

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