Bullion Report of 3rd Jan 2020

Bullion Report of 3rd Jan 2020

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Gold

Latest Updates :

  • U.S. Strike aimed at deterring future Iranian attack plans -Pentagon
  • Dangerous Escalations With Iran Shakes Markets
  • BREAKING: U.S. military, at the direction of President Trump, took “decisive defensive action to protect US personnel abroad” by killing Soleimani, Pentagon says
  • Iran will take revenge for the same which will cause gold more up.
  • Effect: Any kind of state of war always take 1st Crude Oil & Gold Up & always straight away Buy.
  • As Crude Price up which is negative for Indian Currency also which support to move upside.

Fundamentals:

8.30 PM ISM Manufacturing PMI
          Construction Spending m/m
          ISM Manufacturing Prices

(All Data expected positive for US Dollar vs Negative For Gold)
Note down the timing of 8.30 PM for Short term Sell Position: for more update in US Session only)

11.45 pm FOMC Member Brainard Speaks

Range: 39900-39100

Our Preference: Sell Gold 39900 target 39600 SL 40010

Alternative Scenario: Buy Gold 40020+ Target 40300 SL 39940

Momentum Call: Buy Gold 39620 Target 39750 SL 39555

Silver

Range: 47850-46500

Our Preference: Sell Silver 47800 target 47000 SL 48000+

Alternative Scenario: Buy Silver 48000+ target 49200 SL 47700

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