BULLION REPORT 02 JAN 2020

BULLION REPORT 02 JAN 2020

Share

Latest Updates

*Donald Trump announced to trade deal on 15th January which is a very clear down side position for    Gold.

So we expect to gold will start move down again as well as Silver also.

*MCX Gold High 39885 Low 37466 where 70% arrive at 39159. If market get close above 39270+ & next day open & close also then it can move up little.

*As per COMEX Gold Future High 1571.7 Low 1453.1 where 70% arrive at 1536$. On 24th December USA Syndicate Buy CF their Buy position with 5.5 Lac around. But they have left the market @ the price of 1505$ (Spot price). Where Gold is trading @ 1522$ of now.

*Most of International Trader will be back on Trading Desk by 6th of Jan 2020.

So still Gold has a 4 more days to move upside till 1536$.

 

Daily Events

US

6.00 pm Challenger Job Cuts y/y

7.00 pm Unemployment Claims

8.15 pm Final Manufacturing PMI

 

Gold

Range: 39300-38700

Our Preference: Sell Gold near 39170 target 38900 SL 39275
Alternative Scenario: Buy Gold 39280+ target 39400 SL 39220

Momentum Call: Buy GOLD 39000 target 39120 SL 38949

Positional Sell : Sell Gold 39159 ( 1527) back up sell 39359  (1536) With SL 1540$ 39450 Target 38464 & 1490$.

 

Silver

 Range: 47444-46300

Momentum Call: Sell Silver 46760 target 46560 SL 46870

Our Preference: Sell Silver 47300 target 46500 SL 47650

Alternative Scenario: Buy Silver 46400+ target 47100 SL 46100

 

Leave a Comment