Fundamentals for the Day
6.00 pm Core Retail Sales m/m
Retail Sales m/m
Import Price m/m
8.00 pm Crude Oil Inventories
11.30 pm Federal Funds Rate 4% expected vs 3.75%
FOMC Economic Projection
FOMC Statement
Latest Update,
US imposing 100% Tariff on India – and those who import Russian oil by voting 214-211 in advance.
Today Fed Interest rate declaration day – we believe it will remain un change – in case of un change Gold will move upside. In case of Rate Hike Gold may down or dip by 100$ by spike or by momentum but again as it’s effect close Gold will start move upside- Now only case gold make down is If rate hike plus says we will tight in coming months will make gold down.
But we believe Rate will un change – so we remain on our Buy position as it is- For MCX Gold Silver even we suggest Buy position today before marker close with a back up then Hold for our given target will give more money.
Gold
Range: 149600 – 157000
Our Preference: Buy Gold @ 149700+ for target 153500 154832 with SL 149299 below only if sustain
Positional Buy remain intact for target 157000 & 160000
Alternative Scenario: Sell Gold @ 151962 target 150000 with SL 152400+ only if sustain for 30 min
Buy Breakout 152600+ sustain
Positional Trader will hold Buy position or take a 150000 buy for target 157000 & 160000 as target
Silver
Range: 237300 – 230555
Our Preference: Sell Silver @ 237500 target 231000 SL 239000+
Alternative Scenario: Buy Silver above 239000+ target 245000 with SL 236500
Positional call remain on Buy Side only so Buyer will Hold position only no change into it as we mention yesterday too.
